Jefferies Starts Teekay LNG Partners (TGP) at Hold
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Jefferies initiates coverage on Teekay LNG Partners (NYSE: TGP) with a Hold rating and a price target of $16.00.
Analyst Randy Giveans commented, "We are initiating coverage of the LNG shipping Master Limited Partnership group with a bullish view due to the improving industry fundamentals with LNG shipping demand growth set to outpace LNG shipping supply growth through at least 2020, very attractive risk/reward dynamics relative to the midstream MLP space, and potential for continued fleet expansion and annual distribution growth in the coming years."
Shares of Teekay LNG Partners closed at $14.83 yesterday.
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