“Pareto Securities Highlights Mowi, Lerøy Seafood, and Austevoll Seafood as Top Picks in Sector Report”

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Pareto Securities highlights Mowi, Lerøy Seafood and Austevoll Seafood as top picks in a sector report on Monday.

“Before the first quarter reporting, we repeat our overweight recommendation on the sector. The final tax outcome in Norway is still uncertain, but we see sufficient risk/reward for the majority of the shares even if the tax proposal as it is structured today goes through (..) We still argue for Mowi as our top choice, but also see significant upside in Lerøy Seafood and Austevoll Seafood”, it says.

Lower assumptions for tax combined with higher spot price assumptions give higher estimates and thus also higher price targets. Pareto now expects a spot price for salmon of NOK 90 per kilo in 2023 and NOK 88 per kilo in 2024-2025.

TDN Direct