J.P. Morgan Initiates Coverage on GasLog with Overweight Rating
In a report issued earlier today, J.P. Morgan & Co. initiated coverage for GasLog Ltd. (NYSE: GLOG) with an Overweight rating, and set a price target of $16.50.
J.P. Morgan went on to say that GasLog is “geared to bullish, long-term LNG [Liquefied Natural Gas] demand. Natural gas offers a solution to sovereign energy concerns regarding diversification, security and carbon emissions – all while nuclear power falls further out of favor. Our 2012-16 LNG demand CAGR is 6% as the industry is in the midst of unprecedented capacity growth (compares to only a 2% CAGR for LNG shipping capacity) with an expanding share of LNG-sourced imports relative to pipeline delivery.”
GasLog Ltd. closed yesterday at $11.99.
Latest Ratings for GLOG
|Mar 2016||JP Morgan||Downgrades||Neutral||Underweight|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.