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Golar LNG (GLNG +6.2%After Stifel maintains its Buy Rating and raises, a surge of ) in ) is the result.The company raised its price target from $20 to $31 and stated that the strong LNG market and Europe’s desire for diversification away from Russia have created the “best environment possible”.
Benjamin Nolan, Stifel analyst says at meeting with Golar LNGNASDAQ:GLNG) management, the company outlined a number of potential catalysts that likely will materialize through the end of this year, including at least one and maybe two new major project awards by mid-summer, which could “transform the company and the share price.”
Nolan also points out that “floating Regasification is Europe’s fastest way to access more natural gas and Golar has the best modern FRSU available in this quarter.” Management stated that five proposals were received from European countries to purchase the unit either directly for $350M-$400M, or to charter it on a five year contract at rates of $200K/day.
Bank of America upgraded Golar LNG and Scorpio Tankers to reflect the rapid growth in product tanker markets.