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In a report published Wednesday, Deutsche Bank analyst Richard Cheng reiterated a Hold rating on
Cheniere Energy Partners LPCQP, and raised the price target from $30.00 to $36.00.
In the report, Deutsche Bank noted, “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 Partners LP closed on Tuesday at $33.52.
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