Analyst Knut Ivar Bakken of Danske Bank Markets said much of the anticipated downturn in salmon prices in the second and third quarter has been calculated for in the share price for Marine Harvest. A tighter market in the fourth quarter reinforces his confidence in the share.
“We believe expectations of lower salmon prices in the second and third quarters, partly due to seasonal causes, are already rebated in the share price. A tighter salmon market is anticipated from the fourth quarter onwards -- due to limited growth in volumes and sustained strong demand -- positive estimate revisions and high dividends, we have a buy recommendation with a target price of NOK 82 (€9.90/$13.70)
