Höegh LNG Partners (Hold, TP: USD19.10) - Gallant first in line
We have raised our 2019–2020e net profit by 6% on reduced interest costs post the refinancing announcement. We believe it likely that Höegh LNG will try to employ the Höegh Gallant before fixing new FSRUs on contract, as Höegh LNG is contractually obliged to cover 90% of its current contract until 2025. This means that dropdown candidates are second in line. We reiterate our HOLD recommendation and USD19.1 target price following a change of analyst.
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.