Danske Bank has upgraded shares in GasLog after the shipowner took a beating alongside the wider market in the final month of 2015.

Analyst Bjorn Kristian Roed raised the Peter Livanos-led company from hold to buy suggesting the present trading price represents an attractive entry point.

Roed has also boosted his target price from $12 to $15 per share, branding the pre-Christmas tumble unjustified.

“GasLog has a revenue backlog of $3.8bn with an average contract duration of 8.9 years,” the analyst wrote.

“This shields the company from the weak LNG spot/short-term market at current levels, despite having three vessels that are currently loss making in the spot market.

“We expect the spot/short-term market to improve gradually throughout 2016 and reach profitable levels in 2017.”

LNG stocks suffered in 2015 with December particularly bleak after a round of dividend cuts by rivals and a retreating oil price.

"We argue that fundamentals are largely unchanged and that the GasLog shares are suffering from investors putting ‘all LNG shares in one energy basket’, which leads us to the view that entering the stock at the current stage offers an attractive entry point,” Roed said.