Jefferies Upgrades Golar LNG Ltd. (GLNG) to Buy

Jefferies upgraded Golar LNG Ltd. (NASDAQ: GLNG) from Hold to Buy with a price target of $39.00 (from $19.00).

Analyst Douglas Mavrinac commented, "We are upgrading GLNG shares to Buy and are increasing our PT to $39 from $19 based on GLNG shares trading at 140% of estimated NAV, in line with the Company's historical multiple. Given the Company's significant spot market exposure and burgeoning FLNG business, we believe Golar is very well positioned for both an anticipated near-term increase in global LNG shipping volumes as well as potentially stronger crude oil/LNG prices in 2017."

For an analyst ratings summary and ratings history on Golar LNG Ltd. click here. For more ratings news on Golar LNG Ltd. click here.

Shares of Golar LNG Ltd. closed at $22.83 yesterday.

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