Jefferies raised the firm’s price target on Cheniere Energy to $220 from $217 and keeps a Buy rating on the shares. The firm notes Cheniere provided an update to its 20/20 Vision headlined by a $4B increase to the buyback authorization and a 15% increase to company’s quarterly dividend. Cheniere plans for continued dividend growth, reducing the share count to 200M, and capacity growth from CCL3 and SPL Expansion. Cheniere guides for distributable cash flow of $20-$22/share post start-up of CCL3 T1-7 & T8-9, and Jefferies expects the company to hit this in 2027.
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