Flex LNG Minor model adjustments
We have updated our estimates, owing to reducing our TCE for Q2 from USD55k/day to USD52k/day after a challenging H1. We expect the key focus on the earnings call will be an update on management’s timecharter strategy with regard to the spot market amid growing LNG market uncertainty, as well as earnings guidance for H2. We do not consider our estimate changes to be material, and we have not changed our BUY recommendation or our NOK138 target price.
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.
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