STO - UBS rates the stock as Sell
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December quarter production was in line although a large increase in realised prices meant revenue beat UBS estimates. The broker notes a good quarter for GLNG, but this was driven by gas purchase from QC LNG.
There is no change to 2018 guidance and an oil hedging loss has been flagged as prices rise above US$60/bbl.
The broker still considers the stock one of the more expensive under coverage. Sell retained. Price target rises to $5.25 from $5.20.
Target price is $5.25.Current Price is $5.24. Difference: $0.01 - (brackets indicate current price is over target). If STO meets the UBS target it will return approximately 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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