UPDATE: DNB Markets Reiterates Buy Rating, Raises PT on GasLog

In a report published Wednesday, DNB Markets reiterated its Buy rating on GasLog

, and raised its price target from $13.30 to $15.50. DNB Markets noted, “We reiterate our BUY recommendation and have raised our target price from USD13.3 to USD15.5, reflecting a 5% discount to our updated SOTP of USD16.3. Contract coverage is high and longer-term contracts reduce the risk and provide limited downside risk to our DCF-based NAV of USD16.3 (up from USD13.3), which factors in the eight LNG carriers contracted at cUSD76,000/day, with all extension options declared, and assumes the two newbuilds secure 5-year contracts at USD87,000/day.” GasLog closed on Tuesday at $11.70.