We make minor revisions to our estimates leaving adj. EBITDA 2%-1% lower for ’24-26. The outlook for Aker BioMarine’s business segments remains positive with continued momentum in the overall omega-3 market which should benefit both Superba sales in HHI, and sales in the private label segment for CHB, where inventory draws among retailers look to be coming to an end. The current valuation of Aker BioMarine ascribes limited value to the segments outside of HHI, providing an attractive risk/reward ....
