Analysts have been eager to weigh in on the Services sector with new ratings on Golar LNG Limited (GLNG) and Gap (GPS).
Golar LNG Limited (GLNG)
In a report released yesterday, Liam Burke from B.Riley FBR maintained a Buy rating on Golar LNG Limited. The company’s shares opened today at $20.61, close to its 52-week low of $20.41.
Burke noted:
“We are maintaining our Buy rating and price target of $34.00 per share on Golar LNG Limited. Results for 4Q18 reflect Golar’s success in harvesting cash from prior investments with improved spot rates on its consolidated fleet operations and contribution from its investments as it transitions from being primarily a transporter of liquefied natural gas (LNG) to an integrated energy provider of upstream, downstream, and midstream solutions. The long lead time for critical assets and the capital-intensive nature of natural gas delivery support increased global consumption of LNG and has created a strong basis for long-term cash generation. Through consolidated ownership, partnerships, and joint ventures, the company operates in three key areas of LNG processing and transportation: LNG carriers, floating storage and regasification units (FSRUs), and floating liquefaction vessels (FLNG).”
According to TipRanks.com, Burke is ranked #4330 out of 5224 analysts.
Golar LNG Limited has an analyst consensus of Strong Buy, with a price target consensus of $37.60, which is an 82.4% upside from current levels. In a report issued on February 26, Jefferies also maintained a Buy rating on the stock with a $40 price target.
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Gap (GPS)
In a report released today, Susan Anderson from B.Riley FBR assigned a Hold rating to Gap, with a price target of $30. The company’s shares opened today at $30.
Anderson commented:
“The Gap, Inc. (GPS) reported 4Q18 adj. EPS of $0.72, vs. B. –1% SSS (versus B. Riley FBR/consensus of +0.9%/+0.2%). EPS reflected a $0.03 benefit from a lower-than-expected tax rate. GM deleveraged –123 bps Y/Y (versus B. bps/–64 bps) and SGA levered +99 bps (versus B. Riley FBR/consensus of flat). Management gave 2019 EPS guidance of $2.40-$2.55 (versus B. and SSS of flat to up slightly (versus B. Riley FBR/consensus of +1.0%/+1.5%). At the end of 4Q18, inventory was up +6.7% driven by a softer Holiday. Merchandising margins were down –150 bps Y/Y , driven primarily by Old Navy and Gap.”
According to TipRanks.com, Anderson is a 3-star analyst with an average return of 1.5% and a 45.2% success rate. Anderson covers the Services sector, focusing on stocks such as Ascena Retail Group, Abercrombie Fitch, and Children’s Place.
Gap has an analyst consensus of Hold, with a price target consensus of $30.09, representing a 0.3% upside. In a report issued on February 20, Wedbush also maintained a Hold rating on the stock with a $23 price target.
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