Jefferies Downgrades Golar LNG Ltd. (GLNG) to Hold

Jefferies downgraded Golar LNG Ltd. (NASDAQ: GLNG) from Buy to Hold with a price target of $40.00.

Analyst Douglas Mavrina comments, "We are maintaining our 1Q14 EPS estimates and our 2014 & 2015 estimates for the LPG shipping companies as the LPG shipping market is developing as expected. However, we are reducing our 1Q14 EPS estimates and our 2014 & 2015 estimates for the LNG shipping companies as the LNG shipping market continues to weaken with limited available supplies to ship. With the outlook worsening, and the LNG shipping companies approaching or having exceeded our PTs, we are downgrading GLNG and GLOG shares to Hold from Buy as we believe the current positive sentiment in the market does not match the weak near-term outlook."

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 $46.47 yesterday.

You May Also Be Interested In

• Jefferies Downgrades Calix (CALX) to Hold
• BofA Securities Downgrades Deckers Outdoor (DECK) to Neutral
• Morgan Stanley Downgrades Carrefour SA (CA:FP) (CRRFY) to Equalweight