Cheniere Energy (LNG) PT Raised to $214 at Mizuho

Mizuho analyst Robert Mosca raised the price target on Cheniere Energy (NYSE: LNG) to $214.00 (from $195.00) while maintaining a Outperform rating.

The analyst commented: "LNG has been a curious (and significant) underperformer YTD as compared to gas-levered Midstream 'C-corps', which we attribute to (a) perceived lack of exposure to the domestic data center / power demand narrative, (b) lack of earnings catalysts for FY24, and (c) a 'wait and see' mindset on export project commercialization in the aftermath of the DOE's permitting pause. Despite its underperformance, we see LNG as better positioned entering '25 with greater access to marketing volumes (‾165Tbtu est.) and a more constructive commercial environment assuming the cessation of the permitting pause. We doubt LNG will seek to connect its story to the domestic power demand narrative, but we believe the gas-levered re-rate has been just as much about the long-term role of natural gas in the domestic and global energy mix - a theme LNG should benefit from. We raise our PT to $214 on a more stable long-term outlook."

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