Price target increased on Bakkafrost but it still has SELL recommendation

Carnegie has also increased estimate of Faroese salmon farmer’s 2020 earnings. 

The Swedish investment bank Carnegie has raised its price target on Bakkafrost to NOK 445 from the previous NOK 420, while maintaining a SELL recommendation, reports TDN Direkt.

• Read more: Bakkafrost is worth more than the Faroe Islands’ GDP. But its largest owner is foreign

The investment bank has increased its estimate of Bakkafrost’s earnings for 2020 due to exchange rate assumptions and developments in the salmon price in the second quarter.

At lunchtime on Monday, the stock was traded at NOK 557.50, down 0.8 per cent.