UPDATE: DNB Markets Raises PT to $13.30 on GasLog on Updated NAV

DNB Markets reiterated its Buy rating on GasLog (NYSE: GLOG) and raised its price target from $12.90 to $13.30.

DNB Markets noted, "Contract coverage is high and the longer-term contracts reduce the risk and provide limited downside risk to our DCF-based NAV of USD13.3, up from USD12.9, which factors in the eight LNG carriers contracted at USD76,000/day, and assumes the two newbuilds secure fiveyear contracts at USD90,000/day. The company says it remains on track to pay a USD0.11/share dividend in Q4 2012, which we currently have not reflected in our estimates as we believe the company will rather position for further growth through declaring options."

GasLog closed at $10.70 on Tuesday.