Bakkafrost reported Q1/20 results below expectations, and we have lowered our estimates in response to higher cost assumptions. High freight costs for airborne salmon will also weigh on costs in the next few months, and we see uncertainty related to both realized premiums and the salmon sales price trend as volumes are set to seasonally increase soon. We continue to see more value support elsewhere and stick to our Hold rating.
05 May 2020
Estimates revised lower on higher costs
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Estimates revised lower on higher costs
Bakkafrost reported Q1/20 results below expectations, and we have lowered our estimates in response to higher cost assumptions. High freight costs for airborne salmon will also weigh on costs in the next few months, and we see uncertainty related to both realized premiums and the salmon sales price trend as volumes are set to seasonally increase soon. We continue to see more value support elsewhere and stick to our Hold rating.