DNB Carnegie has resumed coverage of Gigante Salmon with a buy recommendation and a price target of NOK 16 (EUR 1.44) per share, according to an update published Thursday.
The bank expects the company to begin returning capital to shareholders through dividends from the first half of 2027, relating to the 2026 financial year.
“With no concrete growth projects in sight, we believe capital will be returned to shareholders in the form of dividends,” DNB Carnegie wrote.
The firm estimates an implied dividend yield of 8.4–13.6 percent for 2027–2028 and values the stock at a price-to-earnings multiple of 9.6x and 5.9x for the same periods.
DNB Carnegie describes Gigante Salmon as an undervalued dividend case under its current outlook.