New investment bank analyst downgrades Mowi

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Swedish investment bank Carnegie recommends SALE from the previous BUY, while price target is adjusted down to NOK 195 from the previous NOK 205.

The update from the investment bank on Tuesday was reported in TDN Direkt.

Former Fearnley Securities Lars Konrad Johnsen is Carnegie’s new salmon analyst and is taking a more subdued approach to the salmon farming sector. The investment bank believes that the combination of too high price expectations in the coming years, valuations at an all-time high and continued setbacks in costs and volume will bring down pricing.

The Mowi share fell 2.4 per cent on Tuesday and was last traded at NOK 227. Mowi will present its third-quarter report on Wednesday morning.

In connection with the presentation of the quarterly report, Carnegie believes the company will focus on guiding harvest volumes for 2020, biology and market prospects. Furthermore, further details are expected regarding the consequences of the provisional suspension of ten licenses in Canada.