Cheniere Energy price target raised to $217 from $201 at RBC Capital

RBC Capital raised the firm’s price target on Cheniere Energy to $217 from $201 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results for U.S. Midstream names. The firm is updating its models to reflect shifts in commodity prices, hurricane impact, and dry gas production weakness, adding that it expects most companies to maintain 2024 outlooks, the analyst tells investors in a research note. For the company, RBC believes that comments around open capacity in 2025, including more granular timing of Corpus Christi Stage 3 trains 1-3 startup, could be a positive catalyst as Cheniere can capture Henry Hub to European/Asian price spreads.