Danske cool on LNG

Danske Bank has launched coverage of GasLog with a hold rating based on the difficulties facing the LNG market.

Analyst Bjorn Kristian Roed placed a target price of $15 per share on the Peter Livanos-led owner.

In an introductory note, Roed said GasLog’s progress had been impressive with both fleet growth and the launch of an MLP. 

“While the long-term outlook looks solid, we argue that an estimated weak 2015-2016 LNG shipping market offers limited triggers to lift the shares,” he said.