Atlantic Sapphire has significantly strengthened its balance sheet following the recent private placement. The company enters its next phase, US phase 1 steady state harvesting, during Q1/21 with NIBD close to zero. The Miami incident is a reminder of risk but the 0.46 JEA index in Denmark supports US volume assumptions and Covid-19 highlights the advantages of local production. We stick to our Buy rating while raising our target price to NOK 160 (150).
14 Sep 2020
Enters next phase with a strong balance sheet
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Enters next phase with a strong balance sheet
Atlantic Sapphire has significantly strengthened its balance sheet following the recent private placement. The company enters its next phase, US phase 1 steady state harvesting, during Q1/21 with NIBD close to zero. The Miami incident is a reminder of risk but the 0.46 JEA index in Denmark supports US volume assumptions and Covid-19 highlights the advantages of local production. We stick to our Buy rating while raising our target price to NOK 160 (150).