Clarksons Platou Downgrades GasLog Ltd. (GLOG) to Neutral
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Clarksons Platou analyst Omar Nokta downgraded GasLog Ltd. (NYSE: GLOG) from Buy to Neutral with a price target of $6.00.
The analyst comments "asLog announced today it has reached an agreement to take the company private with Blackrock's Global Energy & Power Infrastructure Team. Chairman Peter Livanos and the holdings of the Onassis Foundation, which together own 55% of the outstanding shares, will maintain their holdings while Blackrock will acquire the remaining 45% outstanding shares. This is a surprising development but nonetheless underscores the long-term positive outlook for the LNG sector given this new investment on the part of Blackrock."
Shares of GasLog Ltd. closed at $4.95 yesterday.
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