UPDATE: Jefferies Initiates Golar LNG with Buy on Exposure to Increasing Demand

Jefferies initiated coverage on Golar LNG

with a Buy rating and a $50 price target. Jefferies commented, "We are initiating coverage of GLNG shares with a Buy rating and 12-month price target of $50 as we believe the company is very well positioned to take advantage of the continuous increasing demand for LNG shipping with its combination of spot market exposure, short-term time charter contract duration, and uncommitted newbuilding vessels." Golar LNG closed at $39.34 on Thursday.