Citigroup initiates its coverage on GasLog GLOG with a Buy rating and a price target of $16 as shipping solution looks to ride the natural gas wave
Citigroup notes, "Within shipping we believe the LNG sub-sector has one of the most favorable supply/demand relationships, which is likely to provide support (or even further upward pressure) for charter rates. GasLog is a means to gain exposure to this sub-sector and the broader natural gas production/U.S. energy independence theme through a company with high quality LNG assets and a pipeline of new vessels with deliveries scheduled through 2015, which provides incremental revenue and cash flow growth and visibility."
GLOG closed at $11.99 on Tuesday.
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