Bakkafrost will release its Q2/20 results on 25 August and we expect an adj. EBIT of NOK 215m (208) vs consensus at NOK 169m. We have implemented the harvest volumes announced on 2 July (lower than expected), as well as prices for the quarter (NOK 4.4/kg above our previous expectation). Although Bakkafrost is a great company we continue to see more value support elsewhere and stick to our Hold recommendation and NOK 550 target price.
10 Aug 2020
Modest estimate changes ahead of Q2/20
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Modest estimate changes ahead of Q2/20
Bakkafrost will release its Q2/20 results on 25 August and we expect an adj. EBIT of NOK 215m (208) vs consensus at NOK 169m. We have implemented the harvest volumes announced on 2 July (lower than expected), as well as prices for the quarter (NOK 4.4/kg above our previous expectation). Although Bakkafrost is a great company we continue to see more value support elsewhere and stick to our Hold recommendation and NOK 550 target price.