UPDATE: Stifel Starts Teekay LNG Partners (TGP) at Hold
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
(Updated - November 21, 2016 10:21 AM EST)
Stifel initiated coverage on Teekay LNG Partners (NYSE: TGP) with a Hold rating and a price target of $14.50.
"While Teekay LNG has faced a number of financial issues over the past 18 months, we believe having now largely refinanced and recapitalized the business, the partnership can refocus on absorbing built in growth. However, there are several remaining loans to be refinanced and several vessels which are not earning their full contracted rates. As a result, we believe distribution growth is likely to be gradual and back-end loaded for 2018 and 2019. Thus our $14.50 target price is based on relatively stable distributions at current levels trading at a 4.0% distribution yield," said analyst Benjamin J. Nolan.
Shares of Teekay LNG Partners closed at $14.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Upgrades Piedmont Office Realty Trust (PDM) to Hold
- General Electric (GE) PT Lowered to $35 at UBS Following 4Q Report
- Credit Suisse Starts BioMarin Pharmaceutical Inc. (BMRN) at Outperform, Says Next Gen Disease Treaments Drive 2017 Bull Outlook
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, 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!