New Fortress Energy price target lowered to $34 from $39 at Barclays

Barclays lowered the firm’s price target on New Fortress Energy to $34 from $39 and keeps an Equal Weight rating on the shares. The analyst thinks the combination of subdued positioning and the firm’s expectation for a "relatively benign" Q1 earnings update "provides a decent set-up going into the quarter." With investors hyper-focused on execution, successful proof of concept on FLNG 1 will be equally important for the stock, the analyst tells investors in a research note.