“Brexit» -avstemningen this Thursday will take most of the attention in the financial markets.
DNB Markets analyzes in its stock report Monday how attentions any. Decision to leave the EU is expected to weigh on the pound and euro in relative to the other currencies.
– In the first instance, a weaker euro against the Norwegian krone would mean lower revenues for Norwegian exporters. In addition, the Danish crown for several years been locked against the euro, and the markets have begun to question whether this relationship can be maintained, writes brokerage.
Bakkafrost has the largest portion of its costs in Danish kroner, while revenues are mainly in euros and dollars.
– We estimate that a Danish krone strengthened by 10-20 percent against the euro will reduce the company’s EBIT (earnings) for 2016 to 2017 with 11-36 percent, the the report said.
DNB Markets has a hold recommendation on Bakkafrost with price target 335 million.
The share rises 1.9 percent to 313.80 kroner in Monday trading on the Oslo Stock Exchange.
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