Höegh LNG Partners (Hold, TP: USD16.00) - Seeking contracts for Gallant
Höegh LNG Partners delivered another set of results in line with expectations, reflecting good operational performance in Q3, although it was affected by a derivative loss in its JV partner. We believe fixing the Höegh Gallant to a long-term contract remains the highest priority for Höegh LNG, as it would remove earnings uncertainty for both companies. We have upgraded to HOLD (SELL), as we see the shares as oversold, while we reiterate our USD16 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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