Morgan Stanley Sticks to Their Buy Rating for New Fortress Energy (NFE)

In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on New Fortress Energy (NFEResearch Report), with a price target of $58.00. The company’s shares opened today at $51.33.

According to TipRanks, McDermott is a 5-star analyst with an average return of 9.9% and a 56.43% success rate. McDermott covers the Utilities sector, focusing on stocks such as Chevron, Exxon Mobil, and Diamondback.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for New Fortress Energy with a $57.50 average price target.

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The company has a one-year high of $52.37 and a one-year low of $19.17. Currently, New Fortress Energy has an average volume of 1.05M.

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New Fortress Energy LLC engages in the provision of energy infrastructure and development services. It specializes in the fields of power, infrastructure, transportation and liquefied natural gas (LNG). Its LNG production and delivery model includes liquefaction, logistics, shipping and terminals. The company was founded by Wesley Robert Edens in 2014 and is headquartered in New York, NY.

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