According to TDN Direkt, an update from the investment bank on Wednesday, has slashed the price target for shares in Atlantic Sapphire from from NOK 60 to NOK 30.
The investment bank also estimates a capital requirement of US$178 million in 2022. Although the company has a credit facility, a major share issue can be carried out, according to equity analyst Christian Nordby.
Atlantic Sapphire’s share price fell by 3.3 per cent, to NOK 35.20, just after the stock market opened on Wednesday.
Last week, SEB Equity Research downgraded its price target on Atlantic Sapphire to NOK 34 from NOK 44 per share, while at the same time repeating a sell recommendation on the share.