Flex LNG’s $450m cash pile supports long-term dividends, Fearnley Securities said in a fresh note after Tuesday’s third-quarter report.
The Norwegian investment bank raised its recommendation on shares of the John Fredriksen-backed gas carrier owner from “hold” to “buy”.
Analyst Fredrik Dybwad said: “We upgrade FLNG [Flex] to buy as the current yield screens attractive, considering i) a stellar backlog, ii) a massive cash position supporting dividend capacity and iii) a long-term positive outlook for the LNG shipping market.”
