Stifel Nicolaus Sticks to Their Buy Rating for New Fortress Energy (NFE)

Stifel Nicolaus analyst Benjamin Nolan maintained a Buy rating on New Fortress Energy (NFEResearch Report) yesterday and set a price target of $60.00. The company’s shares closed yesterday at $58.41.

Nolan covers the Industrial Goods sector, focusing on stocks such as Canadian National Railway, Costamare, and Diana Shipping. According to TipRanks, Nolan has an average return of 19.3% and a 65.50% success rate on recommended stocks.

In addition to Stifel Nicolaus, New Fortress Energy also received a Buy from Evercore ISI’s Sean Morgan in a report issued on August 9. However, on August 10, Barclays maintained a Hold rating on New Fortress Energy (NASDAQ: NFE).

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Based on New Fortress Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $505.12 million and a net profit of $238.27 million. In comparison, last year the company earned a revenue of $223.84 million and had a GAAP net loss of $6.04 million

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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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