Norwegian Air Shuttle (Sell, TP: NOK170.00) - Yield in line and with a better load
We believe this was a positive report for Norwegian Air Shuttle, including a yield in line and a slightly lower ASK offset by a better than expected load. We expect consensus 2017e adj. EBITDA to be revised up ~15%. However, as 2017e EBITDA is very low, we still find it less relevant for valuation purposes. In our view a positive share price reaction of 3–5% today is warranted.Norwegian Air Shuttle is a low cost passenger travel airline. Co. operates both scheduled services and additional charter services. Co. has aircraft bases in Norway, Sweden, Denmark, Finland, Spain and the U.K.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.