Analyst Petter Haugen in ABG Sundal Collier raises the price target in Höegh Autoliners from the previous NOK 64 to NOK 70 per share. Haugen hereby repeats the purchase recommendation.
On Monday, the exchange rate is 30 kroner after an increase of over 4 percent so far today. If the new price target is met, this corresponds to an upside of over 130 per cent.
Meglerhuset believes that shares in the segment have been burdened by a higher risk of recession in several OECD countries, but argues that car sales are already at “recession levels”, not due to low demand, but a low supply of new cars. Thus, a downside in sales, and thus the seaborne car trade, will probably be limited, writes TDN Direkt.
Favorite analyst
In addition to ABG Sundal Collier, three other Norwegian brokerage houses cover the share, and all of them recommend buying.
Fredrik Ness in SEB Bank operates with a price target of NOK 50 per share, which corresponds to an upside of 66 per cent. DNB Markets and Pareto Securities have price targets of NOK 51 and 52.11 per share, respectively.
Höegh Autoliners has so far been one of the winners on the Oslo Stock Exchange, with an increase of over 30 percent.
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