“We can also see further upside from a successful expansion into North America.”
Carnegie has initiated coverage of land-based producers Salmon Evolution and Andfjord Salmon, issuing buy recommendations for both companies with price targets of NOK 8.8 and NOK 40 per share, respectively.
In its analysis released Thursday afternoon, Carnegie highlighted that Salmon Evolution’s technology has already proven successful, and the next step for the company is to scale up volumes to capitalize on economies of scale, according to TDN Direkt.
The bank also noted potential upside from successful expansion into North America, stating, “We see additional upside from a successful replication of the Indre Harøy facility, which could deliver similar economic results in North America.”
Regarding Andfjord Salmon, Carnegie pointed to the company’s strategic geographic location as a key advantage and described its flow-through farming technology as having low complexity. The brokerage indicated that there could be further upside to the price target if Andfjord Salmon secures additional license capacity.
