GLOP - GasLog Partners cut to Sell equivalent at Barclays on contracting headwinds

GasLog Partners ([[GLOP]] -3.6%) plunges as Barclays downgrades to Underweight from Equal Weight and slashes its price target to $3 from $4, foreseeing continued recontracting headwinds and a limited margin of safety with shares now trading at a slight discount to shipping MLP peers.Barclays analyst Theresa Chen thinks the 21% rise in GLOP shares over the past month offers a chance to take profits, as "upside related to global LNG trade volumes will be tempered by additional vessels added to the global LNGC fleet over the next few quarters/years."Chen gives GLOP management credit for prudently reducing the distribution last year to prioritize strengthening the balance sheet, which should give the partnership flexibility to manage recontracting headwinds while continuing to pay down debt.GasLog Partners could find new deployment opportunities from the deficit of storage capacity in East Asia, Ashland Heights Investments writes in a bullish analysis published on Seeking Alpha.

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GasLog Partners cut to Sell equivalent at Barclays on contracting headwinds