Morgan Stanley Sees Highly Attractive Entry Point for GasLog Ltd.

In a report published Thursday, Morgan Stanley analyst Fotis Giannakoulis reiterated an Overweight rating and $29.00 price target on GasLog Ltd. GLOG. In the report, Morgan Stanley noted, “GLOG has significantly underperformed its peers dropping over 30% since July (vs -5% peers). We attribute this to a) profit-taking and the lack of near-term catalyst after the IPO of GLOP, b) concerns about the deployment of the 4 ships that become available next year, c) confusion over the impact of the stock price decline of its largest customer, BG Group and d) possible sales to fund acquisition of TK stock after the recent dividend increase. We believe GLOG's superior operations and high spec tri-fuel fleet will allow it to secure attractive employment for all its open ships and we see the recent decline as an attractive opportunity to enter.” GasLog Ltd. closed on Wednesday at $20.81.