Aker BioMarine reported Q3 results in-line with expectations. The company kept its 2020 USD 80-90m EBITDA guidance unchanged despite non-recurring challenges and lower than previously expected utilization for Antarctic Endurance, demonstrating strong onshore performance. The USD 200m EBITDA target for 2024 remains in place and, in our view, is not reflected in the share price. We stick to our Buy rating as well as our NOK 185 TP.
01 Nov 2020
Strong growth not reflected in valuation
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Strong growth not reflected in valuation
Aker BioMarine ASA (AKBM:OSL) | 0 0 0.0%
- Published:
01 Nov 2020 -
Author:
Thomas Lorck | Axel Jacobsen -
Pages:
14
Aker BioMarine reported Q3 results in-line with expectations. The company kept its 2020 USD 80-90m EBITDA guidance unchanged despite non-recurring challenges and lower than previously expected utilization for Antarctic Endurance, demonstrating strong onshore performance. The USD 200m EBITDA target for 2024 remains in place and, in our view, is not reflected in the share price. We stick to our Buy rating as well as our NOK 185 TP.