UPDATE: Goldman Sachs Upgrades Golar LNG Limited to Neutral Following Underperformance
In a report published Friday, Goldman Sachs analyst Nick Edelman upgraded the rating on Golar LNG Limited (NASDAQ: GLNG) from Sell to Neutral, and reiterated the $32.50 price target.
In the report, Goldman Sachs noted, “We remove Golar LNG from our Sell List and upgrade our rating on the shares to Neutral following underperformance. Since being added to the Sell List on May 14, 2013, the shares are down 14% vs. the S&P500 down 2% and our Transport, Travel & Leisure coverage up 1.6%. Over the last 12 months the shares are down 18.4% vs the S&P500 up 17.6%. Our view, estimates and price target are unchanged. Our 12-month, NAV-based price target of US$32.50 implies 5% upside potential.”
Golar LNG Limited closed on Wednesday at $30.91.
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