A higher gear ahead

Re-rated - Down to HOLD (Buy)

Cutting '27e on weaker-than-expected sales

Sales below 12m trailing average

Cash flow is returning

Big beat

Signs of momentum picking up

Strong margins, but a small quarter

Sales pace needs to pick up

Positive order momentum, but long tail

If H2 doesn’t step up, '27e won’t stack up

NRC Group ASA: 1 director

A director at NRC Group ASA bought 120,000 shares at 6.000NOK and the significance rating of the trade was 71/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly...

Orders picking up

Odfjell SE: 1 director

A director at Odfjell SE bought 750,516 shares at 103.000NOK and the significance rating of the trade was 70/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly ...

Limited changes post Q1

Consolidated in line weak from JV's

Good Q1e sales, but recent slow-down

Improvements in Norway and Sweden

Odfjell SE (Buy, TP: NOK170.00) - Gear up for renewed momentum

We believe the low 3% swing tonnage and solid tanker outlook on increased OPEC+ volumes, an ageing fleet, and modest supply growth, along with higher chemical volumes, point to a strong chemical tanker outlook. We estimate a 2025 earnings yield of 26% and find Odfjell attractive at an average 2025–2026e P/E of 3.5x (tanker peers: 5.8x). We reiterate our BUY, but have cut our target price to NOK170 (180), mainly due to FX effects.

Important year coming up