Excelerate Energy initiated with a Buy at Deutsche Bank

Deutsche Bank analyst Chris Robertson initiated coverage of Excelerate Energy with a Buy rating and $31 price target. The firm projects increased global demand for liquefied natural gas, or LNG, and sees the potential for outsized investment opportunity in this area in coming years, the analyst tells investors. In that context, the firm believes Excelerate shares are undervalued in the short-term compared to peers and sees upside over the longer-term as the company pursues "accretive growth opportunities," the analyst said.