Cheniere Energy Lowered to “Buy” at Morgan Stanley (LNG)
Cheniere Energy (NYSE:LNG) was downgraded by equities researchers at Morgan Stanley to a “buy” rating in a research report issued on Wednesday, Analyst Ratings.Net reports. They currently have a $74.00 price target on the stock, up from their previous price target of $67.00. Morgan Stanley’s price target points to a potential upside of 36.33% from the stock’s previous close.
The analysts wrote, “At its analyst day last week LNG announced plans to increase short/medium term contracts as percentage of its overall portfolio to further capture arbitrage opportunities between Henry Hub and Asian gas prices. We expect incremental upside as result of the higher cash flow from shorter duration contracts. LNG also clarified its targeted financing structure for the Corpus Christi Plant (CCL) and stated that minimal equity issuance would be required to fund the project. Accordingly, we are raising the target price of our Buy rated LNG from $67 to $74. We are also raising the target price of our Hold rated CQP from $30 to $36.”
Cheniere Energy (NYSE:LNG) traded up 0.34% on Wednesday, hitting $54.465. The stock had a trading volume of 291,937 shares. Cheniere Energy has a 52-week low of $25.02 and a 52-week high of $59.39. The stock has a 50-day moving average of $53.35 and a 200-day moving average of $44.71. The company’s market cap is $12.146 billion. Cheniere Energy also was the target of unusually large options trading activity on Monday. Stock investors acquired 38,173 call options on the stock. This represents an increase of approximately 112% compared to the typical daily volume of 17,993 call options.
Cheniere Energy (NYSE:LNG) last issued its quarterly earnings data on Friday, February 21st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by $0.23. The company had revenue of $68.19 million for the quarter, compared to the consensus estimate of $65.29 million. Analysts expect that Cheniere Energy will post $-1.34 EPS for the current fiscal year.
A number of other firms have also recently commented on LNG. Analysts at Deutsche Bank raised their price target on shares of Cheniere Energy from $67.00 to $74.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse downgraded shares of Cheniere Energy from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 2nd. They now have a $65.00 price target on the stock, up previously from $50.00. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $60.33.
Cheniere Energy, Inc (NYSE:LNG) is engaged in liquid natural gas LNG-related businesses.
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