Quantafuel (Buy, TP: NOK82.00) - Party postponed but still on
The Q4 report revealed a later Kristiansund start-up than we expected, which could affect the entire project pipeline in our view. However, we continue to stress the business’s attractiveness and believe near-term triggers in announced FIDs should drive the investment case and solidify Quantafuel’s position as the leader in chemical recycling. We reiterate our BUY and have lowered our target price to NOK82 (NOK87).
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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