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Golar LNG (GLNG) PT Lifted Sharply at BofA/Merrill Lynch on Demand for 2nd FLNG

September 19, 2014 7:09 AM EDT
Get Alerts GLNG Hot Sheet
Price: $24.06 +1.13%

Rating Summary:
    14 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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BofA/Merrill Lynch analyst Tazeen Ahmad reiterated a Buy rating and boosted his price target on Golar LNG Ltd. (NASDAQ: GLNG) to $110.00 (from $75.00), saying demand for 2nd FLNG expands.

Ahmad notes that recently vice chairman Tor Olov Troim noted that the first FLNG contract would likely be firmed in October, increasing Golar’s confidence to contract for a second FLNG, and set plans to build 10 in 5 years.

"We believe demand continues to scale for future FLNG vessels, which will drive bottom line value, and supports GLNG's desire to maintain its first to market mover advantage in building FLNG's," the analyst commented.

For an analyst ratings summary and ratings history on Golar LNG Ltd. click here. For more ratings news on Golar LNG Ltd. click here.

Shares of Golar LNG Ltd. closed at $71.20 yesterday.



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