BUZZ-Venture Global rises after UBS upgrades to 'buy'
Venture Global's shares rose 3.5% to $13.31 following UBS's upgrade from 'neutral' to 'buy', with a price target of $18, indicating a 12.8% upside. UBS noted that the volume ramp at the Plaquemines LNG export facility is exceeding expectations, predicting 600 commissioning cargoes compared to the company's guidance of 550. The recent positive ruling in Shell's arbitration has alleviated concerns. Currently, 6 out of 13 brokerages rate the stock as 'buy' or higher, with a median price target of $17.
LNG company Venture Global’s (VG.N) shares up 3.5% at $13.31
UBS upgrades VG to “buy” from “neutral”; maintains price target of $18
PT an upside of 12.8% to stock’s last close
Brokerage says the volume ramp at Plaquemines LNG export facility “continues to surprise to the upside”
“We believe the Street is underestimating the number of commissioning cargoes from Plaquemines,” brokerage says
UBS expects VG will commission 600 cargoes from Plaquemines vs company’s guidance of 550
Brokerage says recent positive ruling in Shell (SHEL.L) arbitration removed an overhang
6 of 13 brokerages rate the stock “buy” or higher, 7 “hold”; their median PT is $17 - data compiled by LSEG
