Morgan Stanley analyst Fotis Giannakoulis siad Golar LNG risk/reward has turned highly attractive as a series of negative news and expectations are priced in the shares. The analyst said shares are trading below tangible book value of approximately $18 per share and a series of positive catalysts over the next few months may lead to meaningful upside. Catalysts include the announcement of a Heads of Terms for a new FLNG project, a revival of the Fortuna, commissioning of the Hilli FLNG, new FSRU contracts, and an improvement in the LNG shipping market. Giannakoulis rates shares of Golar an Outperform with a $29 price target and said risk/reward is attractive.