Sector down 12% on weak spot-price sentiment since May. Some potential negative data points left, but set to turn in H2, and largely reflected with sector at '23e-'24e P/E of 15-12x. Our sector top-pick remains Mowi.

14 Aug 2023
Approaching the inflection point
BAKKAFROST P F (BAKKA:STO), 0 | Bakkafrost P/F (BAKKA:OSL), 0 | GRIEG SEAFOOD (GSF:STO), 0 | Grieg Seafood ASA (GSF:OSL), 0 | Mowi ASA (MOWI:STO), 0 | Mowi ASA (MOWI:OSL), 0 | Austevoll Seafood ASA (AUSS:OSL), 0 | SALMAR (SALM:STO), 0 | SalMar ASA (SALM:OSL), 0 | Salmones Camanchaca SA (SALMOCAM:SGO), 0 | Kaldvik AS (KLDVK:OSL), 0 | Austevoll Seafood ASA (Z85:BRN), 0

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Approaching the inflection point
BAKKAFROST P F (BAKKA:STO), 0 | Bakkafrost P/F (BAKKA:OSL), 0 | GRIEG SEAFOOD (GSF:STO), 0 | Grieg Seafood ASA (GSF:OSL), 0 | Mowi ASA (MOWI:STO), 0 | Mowi ASA (MOWI:OSL), 0 | Austevoll Seafood ASA (AUSS:OSL), 0 | SALMAR (SALM:STO), 0 | SalMar ASA (SALM:OSL), 0 | Salmones Camanchaca SA (SALMOCAM:SGO), 0 | Kaldvik AS (KLDVK:OSL), 0 | Austevoll Seafood ASA (Z85:BRN), 0
- Published:
14 Aug 2023 -
Author:
ABGSC Seafood Research | Martin Kaland | Simon Skåland Brun -
Pages:
119 -
Sector down 12% on weak spot-price sentiment since May. Some potential negative data points left, but set to turn in H2, and largely reflected with sector at '23e-'24e P/E of 15-12x. Our sector top-pick remains Mowi.