UPDATE: Credit Suisse Reiterates On Cheniere Energy Following Sudden Upward Move

In a report published Monday, Credit Suisse analyst Abhiram Rajendran reiterated a Neutral rating on

, and raised the price target from $65.00 to $75.00. In the report, Credit Suisse noted, “After a few months of sideways movement, LNG suddenly shot up by $10 (~17%) in a little over a day spurred by the DOE proposal to change their LNG export approval process and helped by another contract for Corpus Christi. Bottom line is from this move, we believe that the stock is now baking in a significant part of both Corpus Christi and the Sabine Pass expansion (we think more than 80% of each, and this is even with the full value of Corpus Christi being attributed to LNG and none to CQP/H).” Cheniere Energy closed on Friday at $68.11.