Goldman Sachs sets NOK 700 target for SalMar stock

Published on 10/05/2026 at 16:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

SalMar raised 2026 harvest guidance by 20,000 tons to 350,000 tons. SalMar stock costs EUR 52.90 on October 5, 2026 versus EUR 53.43.

Schwarzweiß-Dokumentarfoto von Fischern die Netze auf einer Fischfarm ziehen — Schwarzweiß-Reportagefoto von Fischern bei der Netzarbeit steht für SalMar ASA, ISIN NO0010310956, norwegischer Lachszucht-Konzern, Illustration mit AI erstellt.

SalMar (ISIN NO0010310956) was trading at EUR 52.90 at Lang & Schwarz on October 5, 2026 at 4:09 p.m. CEST, standing 0.99 percent below the prior close of EUR 53.43. On October 2, 2026, Markets Insider reported that Goldman Sachs initiated coverage with a Buy rating and a NOK 700 price target. The analyst call gives the stock a fresh valuation reference while SalMar's operating data point to higher volume and lower costs.

Goldman target meets stronger volumes

The NOK 700 target follows a second-quarter update in which SalMar increased its 2026 harvest volume guidance by 20,000 tons to 350,000 tons. The guidance is 49,000 tons, or 16 percent, above the 2025 level, giving the analyst view a measurable operating foundation.

According to the Yahoo Finance transcript of the August 25, 2026 results call, SalMar harvested 81,800 tons in the second quarter and generated operational EBIT of NOK 1.237 billion. Norway accounted for 71,500 tons and operational EBIT of NOK 1.227 billion, while the wider group figure shows the contribution from Icelandic Salmon and SalMar Ocean.

Costs and earnings move higher

The first-half 2026 figures add depth to the volume story. Operational EBITDA reached NOK 3.8 billion and operational EBIT reached NOK 2.7 billion, more than double the prior-year level, while profit after tax was NOK 922 million and adjusted earnings per share were NOK 9.80.

The operating improvement was not driven by volume alone. The transcript said SalMar's first-half harvest volume increased 30 percent, compared with 5 percent for total Norwegian harvest volume, and on-growth cost per kilogram fell 12 percent year over year. Net interest-bearing debt declined by NOK 1.1 billion to NOK 19.1 billion in the second quarter, and leverage improved to 2.6 times.

Euro quote stays below prior close

SalMar's euro quote was EUR 52.90 at Lang & Schwarz on October 5, 2026 at 4:09 p.m. CEST, versus the Lang & Schwarz prior close of EUR 53.43 on October 2, 2026. The primary Oslo Bors listing was quoted at NOK 568.00 in the finance market data at 4:04 p.m. CEST, while the 52-week range was NOK 448.00 to NOK 627.00 and market capitalization was NOK 77.0 billion, all as of October 5, 2026. SalMar's investor page lists a Q3 2026 presentation for November 3, 2026, according to SalMar.

The further course of trading is shown by the continuously updated real-time quote of SalMar stock.