UPDATE: Bank of America Raises Price Target on Golar LNG to $35
According to Bank of America, Golar LNG (NASDAQ: GMLP) price target is raised to $35.
Bank of America said that it is increasing its price objective on shares of Golar LNG Partners (GMLP, $32.96, C-2-7) to $35 from $29, as it lowers its yield target to 5.5% (from 6%), and shift to a revised annual run-rate distribution target of $1.95 (from $1.72). “In the near term, we expect parent entity Golar LNG Ltd. (GLNG, $42.30, NR) to affirm timing for the anticipated 2Q12 dropdown of the FSRU Khannur.”
Golar LNG closed on Friday at $32.96.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.