UPDATE: ABG Sundal Collier Upgrades Golar LNG to Hold
ABG Sundal Collier raises its rating on Golar LNG (NASDAQ: GLNG) to Hold from Sell, reflecting an updated view of the LNG shipping market. Price target is unchanged at $40.
ABG Sundal Collier says, "We forecast the LNG shipping market to be undersupplied by 11 vessel equivalents in 2013e, but to gradually reach an oversupply situation of seven vessels at YE 2014e. This will only be temporary, as we forecast an undersupply of eight vessels in 2015 with the ramp up of new liquefaction projects."
GLNG closed at $36.60 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.