Deutsche Bank lowered the firm’s price target on New Fortress Energy to $26 from $33 and keeps a Hold rating on the shares. While last week’s news of the first liquefaction at the company’s premier FLNG 1 asset was a major positive catalyst for the stock, this is contrasted against a deteriorating earnings backdrop with several risks around the timing and magnitude of incremental growth volumes into Puerto Rico this year, the analyst tells investors in a research note. The firm says the news alone is not enough to change its Hold rating on the stock.
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