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Fly News Breaks for July 18, 2018
HMLP, GMLP, GLOP, GLNG, GLOG
Jul 18, 2018 | 08:23 EDT
BTIG analyst Gregory Lewis initiated GasLog (GLOG) and Golar LNG (GLNG) with a Buy rating and respective $23 and $35 price targets as part of his broader launch of coverage on the LNG shipping industry. Lewis says he is bullish on the LNG shipping trends over the medium term and expects average prices to move above mid-cycle levels over the next two years thanks to the spike in shipping rates in a tight market. The analyst further notes that "increasing liquefaction capacity growth of about 10% annually through 2020 will drive increased demand for seaborne LNG. Lewis also initiates GasLog Partners (GLOP) at a Buy with a $30 price target based on its "identifiable growth pipeline which should drive distribution growth higher", and also starts Golar LNG Partners (GMLP) and Hoegh LNG (HMLP) at Neutral given their low distribution rates.
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