New Fortress Energy price target lowered to $17 from $40 at Stifel

Stifel lowered the firm’s price target on New Fortress Energy to $17 from $40 and keeps a Buy rating on the shares. New Fortress reported results below expectations and significantly cut guidance in part on delays, which were known, but because previous guidance was just not very achievable, the analyst tells investors in a research note. While the new numbers do still assume a ramp from a number of areas, they are more realistic, the firm says.