SalMar Stock Surges as Goldman Sachs Sets NOK 700 Target
SalMar's stock price surged on October 2, 2026, after Goldman Sachs initiated coverage with a Buy rating and set a target of NOK 700. The company's shares gained 2.39% to close at NOK 577.50 on Oslo Bors.
The NOK 700 target is 21.21% above the previous day's closing price, making it a significant milestone for the company. The bullish case relies on higher volumes translating into stronger earnings rather than just expanding production.
SalMar had reported Q2 biology results that supported its 2026 guidance, with harvested tons increasing to 81,800 and operational EBIT reaching NOK 1.237 billion. Norwegian operations contributed NOK 1.227 billion of operational EBIT on 71,500 tons, while the consolidated operational EBIT margin was NOK 15.1 per kilogram.
However, an unfavorable harvest profile reduced price achievement in Q2. The company's investor calendar lists its Q3 2026 presentation for November 3, which will test whether lower production costs and the expanded harvest plan can offset the Q2 timing effect and weaker profitability in Iceland.