Patrick Rejaunier Equity Analyst Follow Patrick Rejaunier

There is still some upside potential

Strategy published on 11/14/2017 | 09:17

long trade Stop-loss triggered

Entry price : 60.8NOK | Target : 66NOK | Stop-loss : 57.49NOK | Potential : 8.55%

Shares in Norsk Hydro show a positive technical chart pattern over the medium term, which suggests that the rising trend should be followed. Investors have an opportunity to buy the stock and target the NOK 66.

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Summary

• The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
• In a short-term perspective, the company has interesting fundamentals.

Strengths

• The prospective high growth for the next fiscal years is among the main assets of the company
• The company has attractive valuation levels with a low EV/sales ratio compared with its peers.
• Over the last 4 months, analysts have significantly revised upwards the company's estimated sales.
• Over the last twelve months, the sales forecast has been frequently revised upwards.
• For the past twelve months, EPS forecast has been revised upwards.
• For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.
• Within the weekly time frame the stock shows a bullish technical configuration above the support level at 50.6 NOK

Weaknesses

• Stock prices approach a strong long-term resistance in weekly data at NOK 64.
• Analysts covering the stock have recently lowered their earnings forecast.

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