Goldman Sachs has raised its price objective on Golar LNG Ltd. to $56.00 from $55.00 and left its rating at Buy as the company approaches its fourth-quarter 2025 earnings release. The revised target sits just under the Street’s top projection of $57.00 and implies nearly 40% upside from a recent share price of $40.22.
Analysts continue to show strong conviction in the name, with the stock carrying a consensus Buy rating and a numeric consensus score of 1.38. Market valuation metrics cited alongside the brokerage’s view show a mixed picture: the company trades at a high EBITDA multiple, yet a low PEG ratio of 0.2 suggests potential undervaluation relative to expected growth.
Goldman Sachs adjusted its short-term EBITDA estimate for Golar, projecting fourth-quarter 2025 EBITDA of $87 million. That is marginally above consensus of $85 million and slightly higher than the firm’s prior $83 million projection. The bank attributes the uptick to increased production from the Gimi vessel, which it expects will partly offset lower commodity-driven revenues associated with the Hilli vessel during the quarter.
For additional context on recent performance, Golar’s trailing twelve-month EBITDA is reported at $134.19 million. Revenue growth for fiscal 2025 is forecast at 47%.
Looking further out, Goldman Sachs forecasts that Golar’s full-year EBITDA for 2026 will decline year-over-year to $252 million. The firm’s view is that while Gimi contributes for the full year, that benefit will be counterbalanced by the planned relocation of Hilli in July 2026 ahead of its 2027 Argentina contract, producing a net reduction in annual EBITDA.
The investment bank expects the company’s forthcoming earnings call to address several strategic and operational topics, including potential plans for a fourth vessel, efforts to monetize the commodity option value embedded in Argentina contracts, ongoing capital return programs, and the board’s review of strategic alternatives. Goldman Sachs describes its own modest increase to estimates and the price target as the result of refining its model of Golar’s executed contract portfolio.
Valuation measures cited by the bank show the stock trading at a P/E ratio of 72.94, while the PEG ratio stands at 0.2. Goldman notes that the shares trade at a premium to current earnings on a price-to-earnings basis, yet may look attractive when judged against expected growth rates reflected in the PEG metric.
Recent company reporting for the third quarter of 2025 showed operating revenue of $123 million, narrowly missing a forecast of $124.67 million. Adjusted EBITDA for the quarter was reported at approximately $83 million, about 2% below a consensus estimate of $85 million. Management pointed to the ongoing production ramp of the Gimi vessel and weaker-than-anticipated commodity-linked revenues from the Hilli contract as contributors to the shortfall.
Despite the near-term misses, other analysts have maintained positive stances on the stock. One firm reiterated a Buy rating with a $50 price target, and the stock rose in response to the most recent earnings call, reflecting investor receptivity to management commentary and the company’s near-term outlook.
Investors and market participants will likely focus on the upcoming quarter’s operational updates and the company’s commentary on vessel deployment and contract monetization strategies. Those elements, combined with the bank’s refined contract modeling, underpin Goldman Sachs’ decision to nudge its estimates and lift the price target while preserving a constructive rating.
What to watch
- Execution of the Gimi production ramp and near-term output levels.
- Commodity-linked revenue performance from the Hilli vessel and any impacts from its planned relocation.
- Management commentary on vessel additions, contract option monetization, capital returns, and strategic alternatives.