Cheniere Energy up 2% After Citigroup Raises Price Target

Cheniere Energy

is trading higher on the session following a Citigroup research report. Citigroup reiterated the company's Buy/High Risk rating and raised the price target from $16 to $26. Citigroup noted “We believe the key catalysts (besides moving past the remaining risks above) to unlock the value in the stock are either 1) time, which reduces the execution risk in the stock as the facility approaches full operation; or 2) a take-out of the company. An acquiring company with a lower cost of capital and experience in managing multi-billion dollar projects could extract significant synergies on top of our current valuation." Cheniere Energy is currently trading at $13.28, a gain of $0.24 or 1.84% intraday.