Seaport Global Securities Assumes Golar LNG Ltd. (GLNG) at Buy
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Seaport Global Securities assumes coverage on Golar LNG Ltd. (NASDAQ: GLNG) with a Buy rating and a price target of $35.00.
Analyst Magnus Fyhr commented, "We are assuming coverage of Golar LNG with a Buy rating and $35 price target. Building on its expertise in LNG shipping and regasification, GLNG is transitioning into a leading integrated LNG midstream company primarily engaged in the transportation, regasification, liquefaction and trading of LNG. While the shares are up 61% YTD, we believe the risk/reward remains attractive as the shares only partially reflect the successful execution of a growing pipeline of attractive FLNG/FSRU projects, in our view. In addition, we believe the LNG shipping market is in the early stages of a multi-year recovery driven by new liquefaction projects in Australia and the US, which could add further upside. Our $35 price target is based on the shares trading near parity with our sum-of-the-parts valuation for three projects in the pipeline, which does not take into account potential valuation uplift from MLP dropdowns and higher IDR splits."
Shares of Golar LNG Ltd. closed at $25.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Ciena (CIEN) to $30 Following 4Q
- UBS Cuts Price Target on SecureWorks Corp. (SCWX) to $13
- BMO Capital Raises Price Target on Ciena (CIEN) Following 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!