Cheniere Energy (LNG) Buy Rating Reiterated at BTIG

BTIG maintained a Buy rating on Cheniere Energy (NYSE: LNG) with a price target of $100. Analyst William Frohnhoefer doesn't think negative sentiment will last.

"We reiterate our BUY rating and our price target, because we realize that Cheniere equity is not a wager on Brent crude prices - Cheniere's business model is actually premised on minimizing the impact of commodity prices. The market may not be paying attention to this distinction, and the market's attention may have lapsed at a characteristically inconvenient moment, but the facts will outlive the sentiment," said Frohnhoefer.

"The nightmare scenario for Cheniere is that the general panic over oil prices will compromise financing for the third train of its Corpus Christi project and will leave the spot market closed to its excess capacity. We explain below why we think this scenario is just a bad dream, and why - even if it were to come to pass -Cheniere is still trading below its intrinsic value," he added.

For an analyst ratings summary and ratings history on Cheniere Energy click here. For more ratings news on Cheniere Energy click here.

Shares of Cheniere Energy closed at $65.99 yesterday.

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