Norsk Hydro: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse maintains its "neutral" rating on the Norsk Hydro share, having increased its corresponding target price to 43 Norwegian kronor, from 39 Norwegian kronor previously.
The broker bases its analysis on the Norwegian group's "solid" fourth quarter, thanks to better-than-expected pricing and "remarkable" cost control at its primary division.
However, analysts believe that the macroeconomic context is "worrying," with Chinese aluminium production "at record levels, and which is continuing to grow, while demand is declining, leading to a risk on the price of aluminium.
Finally, the analyst underlines the risk of unfavourable currency movements between the Norwegian kronor and the US dollar.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.