UPDATE: DNB Markets Downgrades Golar LNG to Hold on Expected Weak News Flow

In a report published Wednesday, DNB Markets analyst Øyvind Berle downgraded the rating on Golar LNG

from Buy to Hold, and lowered the price target from $46.00 to $40.00. In the report, Berle noted, “We believe Golar LNG shares will come under pressure in the next six months due to: 1) a likely lack of news flow and 2) a weak season and lack of demand. However, we also expect: 3) potential FSRU conversions of the newbuilding portfolio; 4) a successful FLNG spinoff; 5) that Golar LNG has finished this investment cycle and has moved to a harvesting phase; and 6) contracts on both the LNG carrier and FSRU newbuilds to be positive for the shares, although this will probably take some time.” Golar LNG closed on Tuesday at $36.56.