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NHYDY.PK

ISIN: US6565316055
SEDOL: 2642819

Rating:

HOLD

Target Price:

3.35 USD

Investment Horizon:

6 to 12 months
19th Dec 2008 View Report   Download

Company News Alert

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On 18 December 2008, the Norsk Hydro A.S.A. (Norsk Hydro) common stock reached our target price, reflecting our belief that the stock was oversold (refer to our 3Q 08 update report, dated 19 November 2008). The rally in the stock price also reflects the closure of the Soderberg electrolysis facility at the Karmoy aluminum plant, which should improve the company’s operating margins. Because the appreciation…

19th Nov 2008 View Report   Download

3Q 08 Update Report

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In 3Q 08, Norsk Hydro A.S.A (Norsk) recorded significantly lower than expected revenues due to lower than anticipated aluminum prices realized by the company. However adjusted operating income was above our estimate due to lower than expected raw material and energy prices. The recent global credit crisis has resulted in steep fall in commodity prices. The LME spot price of aluminum has declined significantly since our previous…

21st Oct 2008 View Report   Download

3Q 08 News Alert

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Norsk Hydro A.S.A’s (Hydro) 3Q 08 revenues and profitability were below our estimates given higher than expected energy, input and financial expenses. The company has cited the global financial crisis and uncertainty in global markets as having impacted the company’s results. As we expect a sustained decline in aluminum prices and as we expect earnings to be impacted by rising input costs…

29th Sep 2008 View Report   Download

Company News Alert

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Norsk Hydro A.S.A (Hydro) common stock price has continued to slide, falling by a further 21% since our previous company news alert, dated 16 September 2008. This decline reflects negative investor reaction to falling aluminum prices....

16th Sep 2008 View Report   Download

Company News Alert

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Norsk Hydro A.S.A (Hydro) common stock has declined significantly since our last update report, reflecting a decline in aluminum prices over the same period. As our target price no longer supports a SELL rating, we upgrade the common stock to a HOLD. As we anticipate a positive currency impact on the ADR stock over the medium term and given current price levels, we upgrade the ADR stock from a SELL to a HOLD....