Nordea Markets jacks up Austevoll Seafood, but tells investors to stay away from salmon

News
304

Investment bank is upgrading Austevoll Seafood, from HOLD to BUY, but is lukewarm to other shares in the sector.

Nordea Markets sees over 40 per cent upside in the share price, and has a price target of NOK 107 per share at Austevoll, writes E24 referring to an update from Nordea Markets.

The investment bank also downgraded Bakkafrost to HOLD with a fair-value of NOK 605 per share. Nordea said it saw limited upside in the share price from the current level, following a recent rise in the price.

At the same time, SELL recommendations are maintained at Mowi, Grieg Seafood and Norway Royal Salmon. But price targets are increased, due to increased salmon price assumptions going forward.

The price target at Mowi is increased to NOK 165 from the previous NOK 150. Grieg Seafood’s price target is increased to NOK 90 from NOK 85. The price target for Norway Royal Salmon is increased to NOK 200 per share from the previous NOK 150.