Ocean Yield (Hold, TP: NOK73.00) - Good times, bad times
We have made marginal estimate changes ahead of the Q3 results (due after market close on 1 November). Our Q3e EBITDA of USD84m is 2% below consensus. For the Q3 presentation, we will focus on updates for the recent transactions and alternative employment for Dhirubhai-1. Following a change of analyst, we reiterate our HOLD and NOK73 target price.Ocean Yield provides investments in vessels within oil-service and industrial shipping industry. Co. is a ship-owning company with investments in vessels on long-term charters.
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.
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