Seaport Global Securities Assumes Golar LNG Ltd. (GLNG) at Buy

November 23, 2016 9:12 AM EST
Get Alerts GLNG Hot Sheet
Price: $25.55 --0%

Rating Summary:
    12 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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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."

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 $25.05 yesterday.

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