Saturday, October 22, 2016

Yara-led børsoppgang – Dagens Næringsliv

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Lifted by better results than expected.

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Yara International Borregaard increased markedly after both companies have put forward the result for the third quarter which was better than expected, while Tomra fell back after its report.

Borregaard was up 6.9% after having put forward a adjusted profit before tax, depreciation and amortization (ebidta) of nok 216 million in the third quarter of 2016, up from 160 million in the same quarter the year before.

DNB Markets, writes that Borregaards ebita was around 14 posent better than expected, and they expect that consensus can be increased by 3-4 per cent in 2016 and 2017.ABG Sundal Collier also see positive changes in estimates as a result of the current Borregaard report and maintains a kjøpsanbefaling on the stock. Also SEB believes that the interim report was positive.

Several analysts expect that the konsensusestimatene on Yara International is up for tredjekvartalsrapporten, which was better than expected.

Yara International reported an ebitda of 3.004 million in the third quarter, against an expected ebitda of 2.803 million, according to estimates collected by SME Direkt.

DNB Markets see an upward revision of konsensusestimatene of 3-4 per cent in 2017 on the basis of the interim report, but is waiting, however, that the continued weak market outlook will give negative estimatrevideringer.

Bernstein believes that the Yara-the result was not as bad as feared, according to Bloomberg News.

Citi writes that Yaras results were weak, weighed down by lower gjødselpriser globally.

The better than expected result appears to be driven by stronger volumes, type Pareto Securities.

at the same time adds the investment firm noted that Yara seems somewhat more careful in the prospect of deliveries in Europe than they were in the previous quarter, and to Brazil in the fourth quarter.

“However, we consider the report to be on the positive side, with good deliveries and increased faith in the company’s improvement program”, type Pareto.

the investment firm also shows that Yara International has set the price of calcium ammoniumnitrat (CAN) price in Germany, up three euros tonnet to 165 euro with immediate effect for new deliveries. Pareto believes it is positive to see that CAN-the price is set further up, despite the fact that the price level is still quite low.

jpmorgan chase has a kjøpsanbefaling on Yara with a price target of 380 euros per share.

president and Ceo Svein Tore Holsether points out that Yara in the third quarter of 2016 report a weaker profit than a year ago, which is reflected in the global tilbudsdrevne rates of fertilizer. The profitability of farmers in Europe has been weak in the quarter, driven by low hvetepriser and bad crops in France.

- We set the up CAN the price no later than today in Germany, but it is clear that this is very much about farmers ‘ profitability. We live in a world where the farmer has several options, and we are of course influenced by, but we trust that the model of our work in more demanding times, ” says Holsether to TDN Finans.

Yara rose 3.9 percent to 284,70 money per share, traded for 608 million on the Oslo stock Exchange.

the main index on the Oslo stock Exchange ended up 0.50 per cent to 641,53 points, traded to 3.188 million.

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