Clarksons Platou Securities has begun coverage of Fred Olsen group holding company Bonheur with a buy rating.

Head of research Turner Holm said: "While Bonheur shares have performed well in 2019, the repricing could gain a second wind in 2020 as growth picks up in many of its businesses."

He has a NOK 285 ($31.59) target price on the shares, against NOK 192.50