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The main index of the Oslo Stock Exchange closed at 872.52 points on Friday, following a 1.1 percent gain. A total of NOK 3.8 billion in shares and share certificates were traded.
At the close, oil burned fell 0.9 percent to $ 42.69 per unit. barrels, while WTI oil was also in the red.
Equinor it was up 1.25 percent to NOK 133.85. Norsk Hydro put 2.1 percent to NOK 26.47, while Telenor fell 0.7 percent to NOK 151.75.
Paid analysis
On Friday morning, Swedish analytics agency Redeye took over analytics coverage from e-health company Carasent , with a price target of 40 NOK. Redeye also trades with a bullish scenario of NOK 60 and a bearish scenario of NOK 18.
Carasent paid for the analysis and the “disclaimer” states that analysts Mark Siöstedt and Fredrik Nilsson own shares in Carasent.
After the analysis was released on the market, the share increased by almost 20 percent to NOK 27.40. Since the turn of the year, the price has risen 181 percent, and looking back a year, the price increase is 223 percent.
Ketil Skorstads Tigerstaden is Carasent’s 10th largest shareholder with values of NOK 49 million.
Offer of the year?
Scatec Solar It was also in the limelight on Friday, after the company acquired SN Power from Norfund for around NOK 11 billion.
The stock rose 18.1 percent to NOK 256, and was the most traded axis on the stock exchange with a turnover of NOK 650 million.
“This could be this year’s deal,” ABG Sundal Collier analyst John Olaisen told Finansavisen.
Sparebank 1 Markets writes that the transaction looks very attractive and will make Scatec Solar a world leader in renewable energy.
“Our opinion is that the transaction looks very attractive, the transaction multiples add value as SN Power has EV / EBITDA of 12.3x for 2019, while Scatec Solar is currently around 23x,” the brokerage writes, according to TDN Direkt.
At the same time, the order book stands out, with an increase from 900 MW to 6,520 MW, thanks to projects in Brazil, Vietnam and India during the quarter.
Green Actions
In it finished with 2.9 percent on the Oslo Stock Exchange at NOK 19.51, and has a turnover of NOK 251 million. Vote it rose 10.8 percent after the company partnered with Tinfos.
The cooperation agreement concerns the distribution of VOW’s “Plastic to Electricity” onshore plant to selected countries and markets, mainly Indonesia.
In the list of losers we find Solstad Offshore and Atlantic Petroleum , which fell 18.3 and 16 percent, respectively.
Panoro Energy was up 1.3 percent to 10.64 kroner on Friday. Carnegie assumes hedging of the stock with a buy recommendation and a price target of NOK 17.
One reason is the ongoing structural change among the major European oil companies that makes them less interested in oil assets in Africa.
“This makes it easy for Panoro to make attractive M&A deals,” Carnegie writes, according to TDN Direkt.
