Pareto Securities tar inn Flex Lng i sin portefølje med kursmål 189 kroner:+1:
FLNG – BUY, TP NOK 189 (upside to target: 117%)
While Flex LNG has lagged the broader shipping space significantly this year, it has outperformed its relative LNG-peers. Having delivered profitable numbers for Q3, and Q4 guidance that far exceed what any other LNG shipping company is able to deliver, we believe a re-branding of the company is in store. With ships that generate USD 10 – 15,000/day more and a break-even that is USD 10 – 15,000/day lower Flex LNG will be able to pay out healthy dividends as more of its fleet hits the water. At USD 70,000/day, which for tri-fuel peers would mean zero profits – Flex would earn NOK 20 – 21 per share (annualized) from Q2’21, and we therefore believe the current share price is too low.








