Goldman Sachs Downgrades Golar LNG Ltd. (GLNG) to Neutral; Valuation Call
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Price: $52.00 -0.27%
Rating Summary:
17 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs downgraded Golar LNG Ltd. (NASDAQ: GLNG) from Buy to Neutral.
Goldman analyst says, "We downgrade Golar LNG to Neutral from Buy following outperformance, which we attribute to a sharp rise in LNG spot shipping rates, positive news flow pointing to structurally higher LNG exports and value-accretive corporate actions. Given 1% upside to our NAV-based 12-month Nkr288 price target (from Nkr259), we now see greater value elsewhere in our coverage (HHLA, Maersk, Panalpina). Since being added to the Buy List on November 17, 2010, the shares are up 226% vs. the FTSE World Europe down 13% (in Nkr). We raise our 2012/13E EPS by 13%/3% to reflect lower than expected voyage expenses."
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 $47.57 yesterday.
Goldman analyst says, "We downgrade Golar LNG to Neutral from Buy following outperformance, which we attribute to a sharp rise in LNG spot shipping rates, positive news flow pointing to structurally higher LNG exports and value-accretive corporate actions. Given 1% upside to our NAV-based 12-month Nkr288 price target (from Nkr259), we now see greater value elsewhere in our coverage (HHLA, Maersk, Panalpina). Since being added to the Buy List on November 17, 2010, the shares are up 226% vs. the FTSE World Europe down 13% (in Nkr). We raise our 2012/13E EPS by 13%/3% to reflect lower than expected voyage expenses."
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 $47.57 yesterday.
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