NextDecade Corp. (NEXT) PT Raised to $15 at Stifel

Stifel analyst Benjamin Nolan raised the price target on NextDecade Corp. (NASDAQ: NEXT) to $15.00 (from $13.00) while maintaining a Buy rating.

The analyst comments "On Friday, NextDecade released their 10K and also announced plans to expand the Rio Grande LNG terminal with Trains 6, 7, and 8 for a combined ~18 mtpa of additional capacity. Train 6 is expected to be first, with work starting now and regulatory filing submitted early next year. Train 6 won't start until 2031 at the earliest, and there is significant wood to chop in regard to contracting. While the legal challenge for Trains 1-3 remains, we do not expect a pause in construction given the improved regulatory framework in Washington and continued progress by FERC on a supplemental EIS. As far as the stock, with commercial offtake accounted for, we would expect an FID on Train 4 shortly after regulatory hurdles are cleared this year. Ultimately, we believe there are a number of catalysts that should drive the shares close to our DCF valuation."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)