UPDATE: Dahlman Rose & Co Upgrades Golar Lng to Buy, PT at $50
Dahlman Rose & Co upgrades Golar LNG (NASDAQ: GLNG) to a Buy rating and a price target of $50. Previous rating was at Hold. Upgrade follows recent underperformance and a robust outlook ahead.
Dahlman Rose & Co says, "GLNG is in a position to take advantage of positive LNG market fundamentals. Management has demonstrated its ability to secure lucrative long-term charters at attractive rates, and it has significant open capacity with two LNG carriers rolling off contract by mid-2012 and seven newbuildings delivering in 2013-14, along with two newbuilding FSRUs delivering in 2013-2014. Golar's ability to dropdown assets into Golar LNG Partners (GMLP) provides it a platform to monetize these assets as it secures long-term charters."
GLNG closed at $39.65 per share on Wednesday.
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