Analysts at Norwegian lender Nordea put sell ratings on five major Norwegian salmon farming companies it says are underperforming and will continue to struggle through the end of the year.
A strong increase in salmon harvests in the second half of the year is expected to affect prices and value, the analysts wrote, which will hit salmon shares.
“We now have five companies on sell with an average of 15 percent share price downside for these companies,” said analysts Kolbjorn Giskeodegard, Nordea Markets director of seafood, and Anders Hagen, head of research for Nordea Markets, in a new report issued by the bank.
