New Fortress Energy initiated with a Buy at Deutsche Bank

Deutsche Bank analyst Chris Robertson initiated coverage of New Fortress Energy with a Buy rating and $60 price target. The analyst believes there will be increased global demand for liquefied natural gas in the coming years, which has potential to create "outsized investment opportunities." The firm believes natural gas "will be an important bridge fuel" in the coming years as combustion of natural gas results in 50% less carbon emissions than traditional coal combustion. New Fortress has an attractive EBITDA growth runway over the coming years from its pipeline of new construction fast liquefied natural gas assets in the Gulf of Mexico plus two additional terminals, contends the firm.