DNB Markets downgrades Mowi after strong price development

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Customers are advised to take a profit.

Mowi, along with the salmon price, has been boosted lately. In the last month, the salmon giant has risen significantly sharper than the total index on the Oslo Stock Exchange.

Now, DNB Markets thinks it’s time for investors to reduce their positions.

The investment bank has downgraded Mowi from purchase to hold. At the same time, the price target for the share was raised from NOK 240 to NOK 255. The decision appeared in an analysis on Thursday, according to TDN Direkt.

DNB Markets has raised its profit estimates for 2022-2024 by 2.9-4.9 percent, after what appears to be the first sign of improvement in Mowi’s operations in Canada.

“Despite strong prospects for the salmon sector and our positive EPS revisions, we see less upside potential after the strong share price development recently,” the investment bank writes.

Just after the stock market opened on Thursday morning, Mowi was trading at NOK 255, down 0.5 percent on an otherwise marginally negative trading day at the Oslo Stock Exchange.