Goldman Sachs starts coverage of SalMar stock with NOK 700 target
Published on 10/02/2026 at 13:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
SalMar (ISIN NO0010310956) was trading at EUR 53.78 at Lang & Schwarz on October 2, 2026 at 1:45 p.m. CEST, plus 3.62 percent versus the EUR 51.90 prior close. According to MarketScreener on October 2, 2026, Goldman Sachs began coverage with a Buy rating and a NOK 700 price target. The target stands 20.17 percent above the NOK 582.50 Oslo Bors quote.
Harvest guidance moves higher
SalMar's operating story strengthened in the second quarter of 2026. As reported in the Yahoo Finance transcript dated August 25, 2026, the company harvested 81,800 tons and generated operational EBIT of NOK 1.237 billion. Operational EBIT was NOK 2.7 billion in the first half of 2026, more than double the prior-year level.
The same transcript states that SalMar increased total 2026 harvest guidance by 20,000 tons to 350,000 tons, representing 16 percent growth from 2025. The improvement came with a trade-off: second-quarter operational EBIT fell NOK 276 million from the first quarter because price realization declined by NOK 740 million, partly offset by a NOK 479 million volume benefit.
Biology supports the investment case
Management linked the higher harvest outlook to biological performance and lower production costs. In the first seven months of 2026, mortality was 40 percent lower and growth was 33 percent higher than the 10-year average, according to the August 25 transcript.
The operating profile also points to a balance-sheet benefit. Net interest-bearing debt declined by NOK 1.1 billion to NOK 19.1 billion in the second quarter of 2026, while the leverage ratio improved to 2.6 times. Those figures give the Goldman Sachs target a fundamental counterweight to the risks from salmon prices, biological events and the weaker Icelandic and Scottish operations described in the same transcript.
Next results arrive in November
SalMar's investor calendar lists the third-quarter 2026 presentation for November 3, 2026, and the date is also identified as the next earnings report by Investing.com. The event will test whether the lower-cost trend and stronger harvest volumes are translating into earnings after the second-quarter timing effect.
At Lang & Schwarz, SalMar was trading at EUR 53.78 on October 2, 2026 at 1:45 p.m. CEST, plus 3.62 percent versus the EUR 51.90 prior close. The further course of trading is shown by the continuously updated real-time quote of SalMar stock.
SalMar stock facts
- Company: SalMar ASA
- ISIN: NO0010310956
- Ticker: SALM
- Primary exchange: Oslo Bors
- Price Lang & Schwarz (as of October 2, 2026, 1:45 p.m. CEST): EUR 53.78
- Change versus prior close: plus 3.62 percent
- Prior close Lang & Schwarz (October 1, 2026): EUR 51.90
- Market capitalization: NOK 79.0 billion (as of October 2, 2026)
- Sector / Industry: Consumer Non-Cyclicals / Food and Tobacco
- Next earnings date: November 3, 2026
