Wells Fargo Upgrades Golar LNG Ltd. (GLNG) to Outperform
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Price: $51.70 +1.23%
Rating Summary:
17 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 18 | Down: 16 | New: 9
Rating Summary:
17 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 18 | Down: 16 | New: 9
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Wells Fargo upgraded Golar LNG Ltd. (NASDAQ: GLNG) from Market Perform to Outperform with a price target range of $47-$51, up from $38-$42.
The firm comments, "We are upgrading Golar (GLNG) to Outperform from Market Perform, as we believe it appears poised to move up the supply chain into floating liquefaction (FLNG) in order to enhance returns (via its most recent deal with LNG Partners or projects capturing West African gas), which we think could drive material cash flow growth and create significant value for equity holders. Golar has historically been the equity proxy for the LNG carrier spot market, and while we believe those assets will remain its core business, we believe its recent expansion into FSRUs and potentially FLNG could reposition the stock, creating a more stable value footprint while generating stable returns significantly above those typically seen in the traditional carrier market."
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 $38.46 yesterday.
The firm comments, "We are upgrading Golar (GLNG) to Outperform from Market Perform, as we believe it appears poised to move up the supply chain into floating liquefaction (FLNG) in order to enhance returns (via its most recent deal with LNG Partners or projects capturing West African gas), which we think could drive material cash flow growth and create significant value for equity holders. Golar has historically been the equity proxy for the LNG carrier spot market, and while we believe those assets will remain its core business, we believe its recent expansion into FSRUs and potentially FLNG could reposition the stock, creating a more stable value footprint while generating stable returns significantly above those typically seen in the traditional carrier market."
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 $38.46 yesterday.
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