Golar LNG Ltd. (GLNG) PT Lowered to $50 at Stifel

Stifel analyst Benjamin Nolan lowered the price target on Golar LNG Ltd. (NASDAQ: GLNG) to $50.00 (from $55.00) while maintaining a Buy rating.

The analyst comments "Golar announced the FID for the redeployment of the Hilli and a contract on the first MK2 under construction in China. We have been expecting this announcement for some time and view it as a major catalyst for the shares as the MK2 effectively doubles EBITDA backlog and derisks the capex. The terms of the contract were a little below what had originally been indicated by the company. Although that number differential does take down our upside assumptions, the fact that it is now in place should dramatically increase the intrinsic value of GLNG shares relative to the current prices. Furthermore, with Golar's better mousetrap, we believe there should be a solid pipeline of additional future similar opportunities."

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