Analyst: In salmon, big is not always best

The discount on shares for "smaller" salmon farming companies such as SalMar, Bakkafrost, Leroy and Grieg -- compared to the big guns of the likes of Marine Harvest -- is excessive, according to ABG Sundal Collier, presenting a big opportunity for investors.

Analyst Georg Liasjo sent out an update last week urging investors to "take another look at the salmon small caps." He’s particularly enthusiastic about Bakkafrost.

Smaller salmon companies are usually traded with an EV/EBIT multiple of around 20 percent lower than Marine Harvest, he wrote.