Investment bank Berenberg lowers price target.
Both the salmon price and Mowi’s share price have fallen heavily recently. In a turbulent period on Oslo’s stock exchange, Mowi has fallen significantly more than the overall index.
On Thursday morning, Mowi is traded at a rate of NOK 195. You have to go all the way back to February to find a lower share price for the salmon giant.
Brokerage Berenberg has a neutral view of the way forward. Berenberg lowers price target on Mowi to NOK 210 from the previous NOK 245, and has a hold recommendation on the company.
This appears from an update on Thursday according to TDN Direkt.
Berenberg has updated its model to reflect Mowi’s second quarter results, published at the end of August. The reductions in the estimates primarily reflect: 1) higher costs for feed and other input factors and 2) reduced assumptions for volume growth in Canada after 2022.
