GLNG - Golar LNG spikes as Stifel raises PT in 'best environment imaginable'

Golar LNG (GLNG +6.2%) surges to its highest in nearly three years after Stifel maintains its Buy rating and raises its price target to $31 from $20, saying the strong LNG market and Europe's desire to diversify its gas supply away from Russia have created "perhaps the best environment imaginable" for the company. Stifel analyst Benjamin Nolan says in meeting with Golar LNG 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 notes that "floating regasification is the fastest way for Europe to access more gas, and Golar has the only modern FRSU available in the next quarter," and management said it has received five unsolicited proposals from European nations to buy the unit outright for

For further details see:

Golar LNG spikes as Stifel raises PT in 'best environment imaginable'