Analyst Knut-Ivar Bakken upgrades the sector to Buy.
Salmon stocks have gained a lot of momentum on the stock exchange in the recent weeks. Although seafood is not hit the hardest by the indices on the Oslo Stock Exchange, the companies have had to endure a great correction.
Now Danske Bank’s financial analyst Knut-Ivar Bakken thinks it’s time to start buying the shares.

He thinks short-term price effects of the corona virus will catch up quickly as the situation improves, and points out that prices are still high in the first quarter of 2020. Historically, a low price level of salmon has given increased home consumption of salmon in Europe, he writes in an analysis update according to TDN Direkt.
“While the majority of consumption in China is in restaurants and hotels, 70 percent of Europe’s consumption is at home. Historically, we have seen that fish farmers have effectively managed to find new markets, such as when Russia closed overnight in 2014. However, we are more concerned about the logistics and processing in the short term, as much of the salmon has been exported on passenger aircraft, while quarantine in several countries in Europe can reduce processing capacity,” he writes.
The Norwegian krone has depreciated sharply against the euro and the dollar, which is favourable for fish farmers who have the bulk of revenue in euro and dollar, Bakken points out.
AUSS Buy Buy 128 129
BAKKA Buy Sell 570 598
GSF Buy Buy 158 164
LSG Buy Buy 74 75
MOWI Buy Hold 217 228
NRS Buy Hold 230 237
NTS Buy Buy 82 83
SALM Buy Hold 436 452