Bumper stock market valuation for the salmon farmer.
Since the end of March, Grieg Seafood has increased its market value by 56 percent on Oslo Stock Exchange. Today, the stock is at an all time high with a market value of just over EUR 1,3 billion.
More down the line?
Investment bank, Pareto Securities is among those who believe there is even more to go for Grieg Seafoods investors.
In the wake of the company’s capital market day, which was held in Oslo in early September, analyst Carl-Emil Kjølås Johannessen upped his target price from NOK 110 to NOK 115.
Margins
Kjølås Johannessen argued lower production costs in Canada, increased margins in 2018-2020, and increased valuation multiples were reasons for rising stock prices.
Today, the “upside” to Pareto’s price target is now just under six percent.
