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Mowi's modelled fair value has shifted from NOK242.51 to NOK245.51, a modest uplift that keeps the focus squarely on where the price target sits relative to today's trading levels. The move comes as Street research turns more cautious overall, with the higher target reflecting a mix of supportive and skeptical analyst views that feed into the current debate on the shares. Read on to see how you can track these changes and make sense of the evolving narrative around Mowi.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
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The higher modelled fair value of NOK245.51 signals that at least some analysts still see support for Mowi's valuation relative to current trading levels, even as overall sentiment becomes more cautious.
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For investors who focus on long term positioning, the modest uplift in fair value keeps Mowi on the radar as a name where small changes in assumptions can shift the risk reward balance.
🐻 Bearish Takeaways
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Pareto's downgrade of Mowi, as of 16 January 2026, highlights growing concern among parts of the Street, with the firm adopting a more cautious stance on the shares.
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The mix of a higher modelled fair value and a downgrade from Pareto underlines a split view on execution and future growth prospects, which can translate into higher perceived risk around the current share price.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!
We've flagged 1 risk for Mowi. See which could impact your investment.
What's in the News
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Mowi ASA reported harvest volumes of 152,000 tonnes for Q4 2025 and 559,000 tonnes for full year 2025, compared with 502,000 tonnes in 2024, which the company described as 11.4% volume growth.
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The company announced a partnership in which Mowi produces feed based on Skretting's formulation, targeting efficiencies in formulation, procurement and logistics to support its salmon farming operations.
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Mowi is targeting more than NOK 650 million (€55 million) in annualised net cost savings from the Skretting/Nutreco partnership, primarily from feed formulation, recipes, procurement and logistics.
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Mowi links an expected total earnings effect of more than NOK 1,475 million (€125 million) from the feed partnership and Mowi Feed to an EBIT per kg (GWT) of NOK 2.1 for Mowi Group, NOK 2.6/kg for Mowi Norway and NOK 1.7 in earnings per share (€0.14).
How This Changes the Fair Value For Mowi
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Fair value in the model has moved from NOK242.51 to NOK245.51.
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Revenue growth assumption has shifted from 10.48% to 11.78% in € terms.
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Net profit margin assumption has changed from 11.61% to 12.90% of € revenue.
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Future P/E multiple applied has moved from 15.27x to 14.25x.
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The discount rate has been held at 6.514%.
Never Miss an Update: Follow The Narrative
Narratives link a company's business story to expectations for its future financials and a fair value estimate. They adjust over time as new operating data, industry trends and risks come through.
Head over to the Simply Wall St Community and follow the Narrative on Mowi to stay up to date on:
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How expectations around the normalization of global salmon supply and sustained demand for salmon products are used in revenue growth assumptions for Mowi.
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The role of higher harvest volumes, feed cost efficiencies and downstream integration in supporting margins and earnings power.
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Key risks such as salmon price volatility, biological and environmental events and higher debt levels that could pressure margins and cash flow.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include MOWI.OL .
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
