Vow (Hold, TP: NOK25.00) - Landbased needs to deliver
Vow’s Landbased segment needs to deliver to justify the current share price in our view (we value the existing business excluding Landbased at NOK14/share). Landbased’s order intake has been rather slow, and despite agreements with strategic partnerships we would like to see more firm contracts. Following a change of analyst, we have downgraded the stock to HOLD (BUY) and cut our target price to NOK25 (39).Scanship Holding ASA in Norway-based company that designs, engineers, and produces solutions for waste management and wastewater purification for the cruise industry. The Company is also present in aquaculture industry where its products prevents pollution to sea and enable recirculation of valuable resources from fish production.
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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