Cheniere Energy added Analyst Focus List as value ide at JPMorgan

JPMorgan analyst Jeremy Tonet raised the firm’s price target on Cheniere Energy to $214 from $213 and keeps an Overweight rating on the shares. The analyst also added Cheniere to JPMorgan’s Analyst Focus List as a value idea. The stock’s underperformance has created a compelling entry point for a “world-class energy infrastructure company” with industry-leading cash flow stability, leverage to secular liquified natural gas tailwinds, and underappreciated optimization capabilities the analyst tells investors in a research note. The firm continues to see upside risk to estimates, saying the company’s Q1 results handily beat expectations and delivered $1.2B in buybacks, positioning Cheniere well to exceed initial capital allocation goals and exceed the midpoint of the full-year 2024 range. Current trading levels are “too inexpensive to ignore,” contends JPMorgan.