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).

Northern Lights

Huhtamaki (Buy, TP: EUR47.00) - We expect volume comeback

Despite Western boycotts and the Red Sea crisis dampening Huhtamaki’s sharpest growth prospects, we expect another solid quarter, characterised by improving volume trends (now also on a YOY basis) and stronger profitability. In Q2e, we look for 1) further signs of demand pick-up; 2) updates on new investments and innovations; and 3) progress in the ongoing cost-cutting programme. We reiterate our BUY and EUR47 target price, following limited estimate changes (the results are due on 25 July).

Seafood - Fat Trout Weekly

Seafood - Fat Trout Weekly

Golar LNG (Buy, TP: USD32.00) - Argentina FLNG project with PAE

Golar LNG today revealed its next FLNG contract with impressive economics for its FLNG Hilli from 2027 in Argentina. This adds to recent news on the Nigeria FLNG project, and we expect we could see the share price above USD35 today on the compounding value.