On Friday it became known that the Norwegian oil company and BP Norway merge, forming Aker BP.
Brokerages responds by raising its price target, and DNB Markets has raised its by around 60 percent.
SEB and Nordea Markets reiterates according to TDN Finans their buying recommendations, and raises respectively. 105 and 100 respectively. The latter was of 80 million before the update.
SEB company states that “a growth machine with a significant dividend potential,” and believe the yield could rise to 10 per share over time.
Aker BP first quarterly dividend is scheduled for Q4 2016, depending on the creditors’
Nordea believes according to news agency that the merger is verdiinnvannende, and estimates a quarterly dividend of 12.50 cents as of Q4.
This is equivalent to around 4.15 million a year, according to the current exchange rate.
Handelsbanken has in turn upgraded the Norwegian sales to accumulation, and raised price target from 70 to 100 million.
Pareto Securities has also upgraded the stock, Bloomberg reports according to TDN Finans, but from hold to buy.
the Norwegian rising 5.1 percent to 94.90 kroner in Monday trading on the Oslo stock Exchange and is the fourth most traded stock.
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