GasLog (Hold, TP: USD18.90) - Focus should be on cost
Gaslog saw a negative share price reaction following its Q4 results on 16 February, most likely as a result of the market interpreting the increased opex as ‘the new normal’. Opex per operating day was USD17.4k/day in Q4, compared to USD13.9k/day in the first nine months of 2017. We reiterate our HOLD and have raised our target price to USD18.9 (18.5).
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.