GasLog (Hold, TP: USD18.50) - Earnings look set to increase
We reiterate our HOLD recommendation as the Q3 results were in line with expectations, but we have raised our target price to USD18.5 (17.8) on LNGC markets improving both sooner and sharper than we had forecasted in our latest sector report (13 September). GasLog has five TFDE vessels and one XDF vessel currently available for spot trading in 2018.
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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