UPDATE: Jefferies Initiates Golar LNG with Buy on Exposure to Increasing Demand
Jefferies initiated coverage on Golar LNG (NASDAQ: GLNG) with a Buy rating and a $50 price target.
Jefferies commented, "We are initiating coverage of GLNG shares with a Buy rating and 12-month price target of $50 as we believe the company is very well positioned to take advantage of the continuous increasing demand for LNG shipping with its combination of spot market exposure, short-term time charter contract duration, and uncommitted newbuilding vessels."
Golar LNG closed at $39.34 on Thursday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.