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UPDATE: Citigroup Reiterates Neutral Rating, Lowers PT for Golar LNG

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Golar LNG Partners Adj. EBITDA of $81.34M (Seeking Alpha)

In a company update published earlier today, Citigroup Inc. reiterated its Neutral rating for Golar LNG Partners LP (NASDAQ: GMLP), but lowered its price target from $37.00 to $33.50.

Citigroup said in its report “GMLP reported adj EBITDA (inc. non-controlling interest) of $40.6 mil vs our est of $43.5 mil and consensus of $41.4 mil. The lower results were due to fewer revenue days and increased costs associated with two FSRUs, the Golar Spirit and Golar Winter, undergoing scheduled annual maintenance during the quarter. DCF of $19.0 mil was 7.7% below our est of $20.6 mil and covered distributions by 1.11x. The partnership had previously announced its distribution of $0.43/unit ($1.72 annualized), flat sequentially.”

Golar LNG Partners LP closed yesterday at $32.07.

Latest Ratings for GMLP

DateFirmActionFromTo
Feb 2015Stifel NicolausMaintainsBuy
Jan 2015CitigroupMaintainsNeutral
Nov 2014Wells FargoDowngradesOutperformMarket Perform

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Posted-In: Citigroup Inc.Analyst Color Price Target Reiteration Analyst Ratings

 

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