B.Riley FBR analyst Liam Burke assigned a Hold rating to Golar LNG Partners (GMLP) today and set a price target of $17. The company’s shares opened today at $13.35.
Burke commented:
“We continue to rate GMLP Neutral and maintain our $17 price target. Golar MLP is benefiting from a strong underlying market in both liquefied natural gas (LNG) processing and transport through a combination of long-term charters as well as a very strong spot market. With continued global consumption of liquefied natural gas (LNG) and tight supply of available carriers to support higher LNG production, Golar MLP , in our opinion, will continue to generate stable distributable cash flows. With a strong sponsor relationship, there is a steady pipeline of additional drop-down assets which provides a source of incremental distributable cash flow growth. Based on its current valuation, we believe GMLP units are fairly valued.”
According to TipRanks.com, Burke is a 1-star analyst with an average return of -2.1% and a 49.2% success rate. Burke covers the Services sector, focusing on stocks such as Ship Finance International, Dynagas LNG Partners LP, and Scorpio Tankers Inc.
Currently, the analyst consensus on Golar LNG Partners is a Moderate Buy with an average price target of $13.50.
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The company has a one-year high of $21 and a one-year low of $10.23. Currently, Golar LNG Partners has an average volume of 441K.
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Golar LNG Partners LP engages in the logistics solutions. Its activities include owning, trading, and operation of floating storage and regasification units (FSRU) and liquefied natural gas ( LNG) marine transportation. The company was founded on September 24, 2007 and is headquartered in Hamilton, Bermuda.
