Golar LNG resumed with a Neutral at Citi

Citi analyst Christian Wetherbee resumed coverage of Golar LNG with a Neutral rating and $27 price target. While the company has one remaining liquified natural gas carrier, it is a non-core asset, leaving FLNG Hilli and FLNG Gimi to create a pure-play floating liquified natural Gas carrier, the analyst tells investors in a research note. The firm believes the simplification of Golar’s business improves the company’s financial position with solid liquidity of $1B, including cash/hedges of over $900M. Citi says a more solidified re-deployment plan for Hilli and a successful deployment of Gimi could allow it to become more constructive on the name.