Golar LNG "buy," target price raised

08/25/09 - Lazard Capital Markets

NEW YORK, August 25 (newratings.com) - Analysts at Lazard Capital maintain their "buy" rating on Golar LNG Limited (GLNG). The target price has been raised from $10 to $13.

In a research note published this morning, the analysts mention that the recent restructuring initiatives, including the split of its LNG ship assets by the company, are a positive move. Golar LNG is expected to start paying dividends from 1Q10 onwards, the analysts add. A decline in LNG spot rates is expected to have a negative impact on the company’s near term performance, Lazard Capital says. The EPS estimates for FY09 and FY10 have been reduced from $0.22 to $0.05 and from $1.10 to $1.04, respectively.