Golar LNG's stock plummeted 5.12% during intraday trading on Thursday, following a negative analyst action that prompted investor selling.
The decline came after Pareto downgraded Golar LNG from Buy to Hold, setting a price target of $55. Analyst downgrades often lead to reduced investor confidence and can trigger sell-offs as market participants adjust their positions based on the revised outlook.
Meanwhile, Deutsche Bank provided a contrasting view by raising its price target on Golar LNG to $65 from $54, indicating some analyst optimism remains. However, the market reaction suggests investors placed greater weight on the downgrade, leading to the significant price drop during the session.
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