What Will The Effects of a BofA Merrill Downgrade Be For Golar LNG (NASDAQ:GLNG) Shares?


Golar LNG (NASDAQ:GLNG) Receives a Downgrade

BofA Merrill has given Golar LNG (NASDAQ:GLNG) shares a new “Neutral” rating in analysts report sent to clients and investors on Wednesday morning. This was a decrease from the last “Buy” rating.

From a total of 19 analysts covering Golar LNG Limited (NASDAQ:GLNG) stock, 17 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 85% of the ratings are positive. The highest target price is $100 while the lowest target price is $31. The mean of all analyst targets is $50.89 with a 77.61% above today’s ($25.9) stock price. Golar LNG Limited was the topic of 6 analyst reports since August 18, 2015 according to the firm StockzIntelligence Inc. Credit Suisse initiated shares on September 18 with “Neutral” rating.

Approximately 645,308 shares of stock traded hands. Golar LNG Limited (USA) (NASDAQ:GLNG) has declined 25.76% since April 29, 2015 and is downtrending. It has underperformed by 25.56% the S&P500.

What Will The Effects of a BofA Merrill Downgrade Be For Golar LNG (NASDAQ:GLNG) Shares?

Golar LNG Limited is the owner and operator of liquefied natural gas (LNG) carriers and floating storage regasification units (FSRUs). The company has a market cap of $2.47 billion. As of March 31, 2010, Golar had a fleet of 13 vessels, 10 LNG carriers, three FSRUs and a 50% interest in a further LNG carrier. It currently has negative earnings. On June 22, 2009, the Company formed a wholly owned subsidiary, Golar LNG Energy Limited (Golar Energy).

According to Zacks Investment Research, “GOLAR LNG LIMITED is engaged in the acquisition, ownership, operation and chartering of liquid natural gas carriers and floating storage re-gasification units through its subsidiaries.” Get a free copy of the Zacks research report on Golar LNG Limited (USA) (GLNG).