Morgan Stanley Updates Earnings Estimates for Golar LNG Limited

In a report published Tuesday, Morgan Stanley analyst Fotis Giannakoulis reiterated an Overweight rating and $67.00 price target on

. In the report, Morgan Stanley noted, “Significant upside as GLNG goes ahead with the FLNG conversions that could add $35-40/sh per unit. 5 potential FLNG projects (2 in WAf, 1 Canada, 1 Mexico, 1 US) under discussion of which 3 are more likely. Near-term weakness of the LNG shipping market already discounted, but long-term demand fundamentals remain robust as liquefaction capacity expansion accelerates after 2016. Additional upside from further FSRU contracts and LT shipping contracts. Sponsorship from the Fredriksen Group suggests dividend growth. GMLP provides low cost of capital.” Golar LNG Limited closed on Monday at $58.95.