Nordea Markets raises Mowi share price target

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The Nordic investment bank thinks the salmon giant could go even higher.

Nordea Markets raises the price target on Mowi from NOK 250 to NOK 270 per share, repeating its buy recommendation.

The brokerage house released its updated position on Tuesday, according to TDN Direkt.

Nordea Markets expects an operating profit of €206 million in the first quarter. Meglerhuset continues to see support in the salmon price going forward, driven by stronger demand in the HoReCa market, an expected price increase on other protein sources, and negative supply growth on an annual basis in both Norway and Chile.

Just after the stock market opened on Tuesday morning, Mowi was trading at a price of NOK 252.90.

According to Infront, seven of the 12 brokerage houses that cover Mowi have buying recommendations. Four have neutral and one has negative recommendation. The average price target is NOK 250.

Source: Infront