BofA analyst Julien Dumoulin-Smith raised the firm’s price target on Cheniere Energy to $194 from $172 and keeps a Buy rating on the shares after the firm updated project-level debt schedules and standardized its unit economic assumptions for expansion projects and also updated its valuation methodology to better reflect Cheniere’s economic interest in Sabine Pass. Commercialization efforts are tracking well for expansions and the firm still sees returns in the mid-teens on incremental capacity additions despite elevated financing costs and inflationary pressures, the analyst tells investors.
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