UPDATE: Morgan Stanley Reiterates on Cheniere Energy Following Company Analyst Day
In a report published Tuesday, Morgan Stanley analyst Stephen J. Maresca reiterated an Overweight rating on Cheniere Energy (NYSE: LNG), and raised the price target from $60.00 to $78.00.
In the report, Morgan Stanley noted, “We left Cheniere's Analyst Day in Houston more constructive on the company's ability to deliver on nine liquefaction trains (~42 mtpa) and see unappreciated upside in the gas marketing aspect of the business. With today's announcement of an additional 0.75 mtpa sale and purchase agreement (SPA) of liquefied natural gas (we abbreviate this as ‘LiqNatGas' reserving LNG for the ticker symbol of Cheniere Energy Inc.) Train 1 of CCL is fully contracted and Cheniere expects Train 2 to complete contracting over the next few months. In their presentation, management provided incremental clarity on the economics of CCL, financing capabilities, and supply procurement.”
Cheniere Energy closed on Monday at $55.03.
Latest Ratings for LNG
|Jun 2016||Wolfe Research||Initiates Coverage on||Outperform|
|Jun 2016||Scotia Howard Weil||Upgrades||Sector Perform||Sector Outperform|
|May 2016||Bernstein||Initiates Coverage on||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.