Arnarlax has delivered on its volume guidance since our last update and we believe the probability of additional license awards has increased following the new risk assessment. We see several triggers going forward: i) cost improvements during H2/20, ii) announcement of a smolt strategy, iii) potential license awards and iv) a potential OSE main listing. We stick to our Buy rating while raising our target price to NOK 150 (100).
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The Saga continues
Arnarlax has delivered on its volume guidance since our last update and we believe the probability of additional license awards has increased following the new risk assessment. We see several triggers going forward: i) cost improvements during H2/20, ii) announcement of a smolt strategy, iii) potential license awards and iv) a potential OSE main listing. We stick to our Buy rating while raising our target price to NOK 150 (100).