The Kingfish Company (Buy, TP: NOK34.00) - Solid appetite for yellowtail kingfish
We were impressed by the Q1 business update, as production volumes, costs, and prices were better than expected. The development process in the US and the EU is on track, and the company is confident in its guidance for cost reductions as volumes are scaled up. In light of the recent production challenges for Atlantic Sapphire, the stability and the high level of biomass growth are impressive, in our view. We reiterate our BUY and NOK34 target price
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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