Report
Nicolay Dyvik
EUR 430.44 For Business Accounts Only

Flex LNG (Buy, TP: NOK16.60) - 8% below market on Q2e EBITDA

We are 8% below consensus on Q2e EBITDA (results due at 08.00 CET on 28 August). Q2 saw one vessel on contract and one trading in the spot market. Challenging market conditions in March and April lead us to expect a TCE rate of USD38k/day for Q2, rising to USD60k/day for Q3. We reiterate our BUY recommendation and NOK16.6 target price.
Underlying
FLEX LNG Ltd

Provider
DnB Markets
DnB Markets

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

Analysts
Nicolay Dyvik

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