Downgrade sinking Leroy and Austevoll Seafood

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Kepler Cheuvreux has adjusted downward its recommendation on stock in Austevoll Seafood and Leroy Seafood from “buy” to “hold”, writes Norwegian Dagens Naeringsliv.

At the same time, the brokerage has increased its price targets for shares in both companies. Shares in Austevoll were adjusted upward to 91 kroner from 83 kroner, and Leroy adjusted from 52 kroner to 55 kroner.

On Tuesday morning, both shares were falling heavily on the Oslo Stock Exchange. Austevoll Seafood was down 4.6 percent, to 88 kroner, while Leroy shares fell 4.4 percent to 55.25 kroner.

Austevoll Seafood is the largest owner in Leroy Seafood Group.