- TGP has just completed one of the largest LNG Carrier newbuild programs on record, without diluting equity and even managing to maintain a sizeable quarterly distribution.
- We believe that TGP’s high-quality portfolio of vessels, combined with long-term charter contracts, will produce an attractive return to investors, once the full profitability of the newbuild fleet becomes evident.
- Valuation models underpin our $22/share price target, implying an upside of 100%, plus another 20-30% in distributions expected before the 2023 timeframe.
For further details see:
Teekay LNG Partners: The Cash Flow Era Begins