Wilh. Wilhelmsen Holding (Buy, TP: NOK235.00) - Headed in the right direction
The pandemic is loosening its grip as margins are restored and an activity recovery is in sight. The company’s acquisition of Edda Wind marks a shift into the wind service vessel market and, backed by initiatives within hydrogen fuel, represents a drive into renewables that might pique investors’ interest as these business areas expand. We still find the shares at a considerable discount to underlying values and reiterate our BUY, with a NOK235 (184) 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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