GasLog Minor model adjustments
We have updated our model for the consolidated GasLog Partners’ Q4 results, but maintain our forecasts for GasLog. We are 3% above consensus (Bloomberg) Q4 EBITDA of USD130.6m. GasLog changed its IDR system in November, and announced two additional long-term contracts with Cheniere in December, for delivery in mid-2021. We reiterate our BUY recommendation and USD23.2 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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