UPDATE: Jefferies Initiates GasLog Limited at Buy on Growth Prospects

Jefferies initiated coverage on GasLog Limited

with a Buy rating and a $15 price target. Jefferies said, "We believe the Company is very well positioned for growth given the attractive long-term fundamentals of the LNG shipping market and GasLog's time charter strategy/built-in growth prospects as a result of its fully financed newbuilding program. … With GasLog's EBITDA set to increase 185% to about $90MM in 2013 and a fully delivered EBITDA run rate of nearly $210MM in 2015, with approximately 95% of the Company's operating days already contracted through 2015, we believe GLOG shares will likely appreciate so long as the Company simply executes on a technical and operating basis." GasLog Limited closed at $11.35 on Thursday.