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Upgrade Alert for Golar LNG (GLNG)

By Shiri Gupta

Golar LNG (NASDAQ:GLNG) was upgraded from Hold to Buy at Nordea today. The stock closed yesterday at $16.71 on volume of 1.9 million shares, below average daily volume of 2.1 million.

There is potential upside of 207.1% for shares of Golar LNG based on a current price of $16.71 and an average consensus analyst price target of $51.32. Golar LNG shares should first meet resistance at the 50-day moving average (MA) of $18.99 and find additional resistance at the 200-day MA of $25.15.

Over the past year, Golar LNG has traded in a range of $9.42 to $51.89 and closed yesterday at $16.71, 77% above that low. The 200-day and 50-day moving averages have moved 2.02% lower and 0.01% higher over the past week, respectively.

Golar LNG Ltd is a shipping company. The Company owns and operates a fleet of LNG (liquid natural gas) tankers, and several of the vessels are under long term charter contracts. The Company has also entered in to an agreement to build additional LNG tankers. Golar transports around the world.

SmarTrend is tracking the current trend status for Golar LNG and will alert subscribers who have GLNG in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades golar lng

Ticker(s): GLNG