Excelerate Energy price target raised to $28 from $21 at Stephens

Stephens raised the firm’s price target on Excelerate Energy to $28 from $21 and keeps an Overweight rating on the shares, citing an improving growth outlook. Calls for Excelerate to increase its return of capital to shareholders are “misplaced,” argues the analyst, who contends that funding growth opportunities, including a deep inventory of infrastructure projects, should remain management’s top priority in light of surging global LNG supply.