Arctic Securities expects global supply growth of 2.8 percent this year

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Anticipates limited supply of salmon in second half.

Arctic Securities raised the price targets for Mowi, Lerøy Seafood and Grieg Seafood in a new sector report on Monday night. Atlantic Sapphire and Salmones Camanchaca are downgraded.

Arctic Securities now expects global supply growth of 2.8 per cent in 2021 and 5.9 per cent in 2022. This means a tight salmon market, especially in the second half of this year.

The brokerage prefers Lerøy Seafood, Grieg Seafood and Icelandic Salmon and expects a normalized market balance in 2022, reports TDN Direkt.

Read also: Arctic stockbrokers are heavily invested in Atlantic Sapphire. Authorities now investigating

In the spring, the brokerage lowered its price target on Atlantic Sapphire from NOK 175 to NOK 130. Now the price target is being raised another notch – to 120 kroner. But the buy recommendation is maintained.

Share Recommendation Price target (formerly)
Atlantic Sapphire Buy 120 (130)
Bakkafrost Hold 700
Grieg Seafood Buy 110 (90)
Icelandic Salmon Buy 150
Lerøy Seafood Buy 100 (85)
Mowi Hold 240 (220)
Salmar Hold 600
Salmones Camanchaca Hold 50 (60)