DNB Markets says that “Atlantic Sapphire has a 70% probability of success”

News
328

Investment bank increases price target by NOK 29.

Atlantic Sapphire on Wednesday presented its trading update for the fourth quarter of 2020. DNB Markets liked what they read and is strengthened in their belief in its BUY recommendation.

DNB Markets lifted the price target on Atlantic Sapphire to NOK 180 per share, from the previous NOK 151, reported TDN Finans.

The investment bank wrote that harvest volume in the fourth quarter was lower than expected, but biomass gain was in line with the budget, while the company achieved a high realised price.

The price target is based on a 70 per-cent probability of success, up from 60 per-cent, after the company continues to confirm the operational and financial assumptions in the real estate scenario, the analysis stated.