Hydro will report its Q4 results on 12 February and we now expect an underlying EBIT of NOK 1,364m (1,245) vs consensus at NOK 1,385m. We have raised our 2021/22 estimates by 37%/30% on the back of a firmer LME price, to some extent offset by a stronger NOK. We see several potential triggers during 2021, mainly related to Hydro’s renewable growth initiatives. We stick to Buy and lift our target price to NOK 45 (35) following our earnings revision.
19 Jan 2021
Several potential triggers during 2021
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Several potential triggers during 2021
Norsk Hydro ASA (NHY:OSL) | 0 0 0.0%
- Published:
19 Jan 2021 -
Author:
Thomas Lorck | Axel Jacobsen -
Pages:
14
Hydro will report its Q4 results on 12 February and we now expect an underlying EBIT of NOK 1,364m (1,245) vs consensus at NOK 1,385m. We have raised our 2021/22 estimates by 37%/30% on the back of a firmer LME price, to some extent offset by a stronger NOK. We see several potential triggers during 2021, mainly related to Hydro’s renewable growth initiatives. We stick to Buy and lift our target price to NOK 45 (35) following our earnings revision.