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Disclaimer Research
Latest research

Date
Reason
Reason
Industry
Document sector
Pages
Pages
When
Date
Text
Report by
Analyst21
Analyst2
Analyst3
Analyst4

Industry
Shipping
Pages
97
When
2020-11-30T09:24:30+2


Industry
Gas
Pages
21
When
2020-11-26T20:10:27+2
What’s new: Sector update
Our take: Product market improving, but supply side disruptions the real saviour this time around. Reiterate Buy on BWLPG/NVGS, raising AVANCE/LPG to Buy.
Report by
Espen L. Fjermestad, Head of research
Peder Nicolai Jarlsby, Analyst

Industry
Energy
Pages
73
When
2020-11-26T12:07:42+2


Reason
Update
Industry
Services
Pages
17
When
2020-11-26T07:41:22+2
What’s new: Updated estimates post 3q20, Buy re-iterated
Our take: Attractive exposure in markets showing growth and is a leader within the energy transition
Øystein Vaagen, Analyst

Reason
Update
Industry
Services
Pages
16
When
2020-11-26T07:37:59+2
What’s new: Increased est. due to solid expected order outlook & expected backlog builds
Our take: We expect an uptick in margins, revenues and FCF (2021e 14% yield) and expect the trend to continue into 2021-22 through strong order intake expectations
Øystein Vaagen, Analyst

Reason
Update
Industry
Services
Pages
17
When
2020-11-26T07:36:06+2
What’s new: Re-initiating coverage post KVAER merger
Our take: Improved balance sheet, FCF generation, improving NCS market and a clear strategy to becoming 66% renewables by 2030 is nothing other than a Buy.
Øystein Vaagen, Analyst

Industry
Services
Pages
65
When
2020-11-26T07:31:44+2
What’s new: Highlighting high growth exposure areas moving into the new year
Our take: Development cycle, subsea market hotspots, LNG and renewables/low carbon exposure is what you get from AKSO, FTI & SUBC – Exactly what you want into 2021-22

Industry
Energy
Pages
72
When
2020-11-25T11:35:48+2


Industry
Fixed Income
Pages
45
When
2020-11-24T09:16:46+2


Industry
Offshore/Oil Services
Pages
60
When
2020-11-24T09:02:39+2


Industry
Shipping
Pages
97
When
2020-11-23T09:14:47+2


Reason
Newsflash
Industry
Nordic Energy
Pages
7
When
2020-11-23T08:53:21+2

Report by
Jørgen Torstensen , Analyst

Reason
Newsflash
Industry
FPSO
Pages
7
When
2020-11-19T08:21:35+2

Øystein Vaagen, Analyst

Reason
Newsflash
Industry
Containers
Pages
8
When
2020-11-18T08:50:47+2
What’s new: 3q20 results – FY’20 guidance uplift and ’21-22 capex guidance.
Our take: 7% upside to 4q estimates, while CS sees USD 8-8.5bn run-rate in ’21-22.
Report by
Espen L. Fjermestad, Head of research
Peder Nicolai Jarlsby, Analyst
Ulrik Mannhart, Credit Analyst

Reason
Results preview
Industry
Containers
Pages
17
When
2020-11-17T19:56:24+2
What’s new: Set to capitalize on market recovery
Our take: Feeder market turning a corner with decade high rates. Nearly half the fleet to be renewed during 4q-1q21. We lift our estimates with c. 40% and reiterate Buy. TP NOK 6.
Report by
Espen L. Fjermestad, Head of research
Peder Nicolai Jarlsby, Analyst
Ulrik Mannhart, Credit Analyst

Reason
Results Review
Industry
Renewable energy
Pages
15
When
2020-11-17T17:17:06+2
What’s new: 3q20 results + change of analyst. Buy, TP NOK95/sh (NOK105/sh 23.09.20)
Our take: Proven technology, FID next month for the next plant and more hiring on the horizon should over-shadow technical challenges at Skive. A solid investment story remains.
Report by
Elliott Jones, Analyst

Industry
Offshore/Oil Services
Pages
60
When
2020-11-17T08:14:48+2


Reason
Newsflash
Industry
Nordic Aquaculture
Pages
8
When
2020-11-17T08:01:05+2

Report by
Nils Thommesen, Analyst

Industry
Fixed Income
Pages
45
When
2020-11-17T07:43:11+2


Industry
Shipping
Pages
97
When
2020-11-16T09:33:35+2


Reason
Results preview
Industry
Containers
Pages
15
When
2020-11-15T15:51:14+2
What’s new: Down to Hold (Buy)
Our take: Poor read across from HLAG and short-term trade effects that soon will abate leaves more challenging outlook for MAERSK which trades at historic high EV/ IC.
Report by
Espen L. Fjermestad, Head of research
Peder Nicolai Jarlsby, Analyst
Ulrik Mannhart, Credit Analyst

Equity & Credit Research

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VLGC Market Outlook with Fearnresearch

Our Equity Analyst, Peder Nicolai Jarlsby and Senior Analyst LPG, Martin Kjendlie goes in-depth on the booming VLGC market. Watch the full video in our research portal.

Published

October 16, 2019