UPDATE: Credit Suisse Upgrades Cheniere Energy as Risk/Reward Has Shifted to Upside

In a report published Monday, Credit Suisse analyst Abhiram Rajendran upgraded the rating on

from Neutral to Outperform, and raised the price target from $48.00 to $50.00. In the report, Credit Suisse noted, “With the recent pullback in the stock (down meaningfully from a high of close to $47 a few weeks ago), we think the risk/reward has shifted to the upside. We have refined several assumptions in our model which take our TP up modestly from $48 to $50, representing ~20% upside and enough to warrant an Outperform rating.” Cheniere Energy closed on Friday at $41.86.