Salmar upgraded to Hold from Sell at Berenberg

Berenberg upgraded Salmar to Hold from Sell with a price target of NOK 540, up from NOK 460. The U.S. National Oceanic and Atmospheric Administration suggests a more than 70% chance of a “strong” El Nino event during the 2023-2024 winter, and there is a causality link between El Nino and higher salmon prices, the analyst tells investors in a research note.