Icelandic Salmon recently completed a NOK 500m private placement to fund investments towards ~30’t in 2024, up from 12’t in 2020. Although we see short-term risks related to Covid-19, we believe the company possesses the most attractive long-term prospects among the traditional farmers, supported by an industry leading owner. We stick to our Buy recommendation and our target price of NOK 150, reflecting an EV/kg of NOK 153 in 2024.
23 Nov 2020
Attractive long-term prospects
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Attractive long-term prospects
Icelandic Salmon AS (ISLAX:OSL) | 0 0 0.0%
- Published:
23 Nov 2020 -
Author:
Thomas Lorck | Axel Jacobsen -
Pages:
17
Icelandic Salmon recently completed a NOK 500m private placement to fund investments towards ~30’t in 2024, up from 12’t in 2020. Although we see short-term risks related to Covid-19, we believe the company possesses the most attractive long-term prospects among the traditional farmers, supported by an industry leading owner. We stick to our Buy recommendation and our target price of NOK 150, reflecting an EV/kg of NOK 153 in 2024.