Market Overview

UPDATE: Bank of America Reduces PO to $33 on Golar LNG Partners LP on Higher Discount Yield

Related GMLP
Top 4 NASDAQ Stocks In The Shipping Industry With The Highest ROI
12 Stocks Paying Increased Dividends: Investment Idea Of The Day

Bank of America reiterated its Neutral rating on Golar LNG Partners LP (NASDAQ: GMLP) bur lowered its price objective from $38 to $33.

Bank of America commented, "Golar LNG Partners' fully chartered fleet provides a steady level of cash flows that are set to grow through accretive follow-on offerings as the company pursues drop down opportunities from its sponsors' substantial LNG carrier fleet. As a result, we expect the company to provide a steadily growing distribution level supported by low leverage and long-term secular changes driving demand in the LNG shipping market. … We maintain our Neutral rating, but are lowering our price objective to $33 (from $38) due to an increased 6% yield target (from 5%) on the annualized $2.00 distribution target."

Golar LNG Partners LP closed at $28.64 on Wednesday.

Posted-In: Bank of AmericaAnalyst Color Price Target Intraday Update Analyst Ratings

 

Most Popular

Related Articles (GMLP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters