UPDATE: Goldman Sachs Upgrades Cheniere Energy Partners, LP (CQP) to Neutral
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Goldman Sachs analyst Michael Lapides upgraded Cheniere Energy Partners, LP (NYSE: CQP) from Sell to Neutral with a price target of $56.00 (from $53.00).
The analyst comments "We upgrade Cheniere Energy Partners (CQP) from Neutral to Buy, with our 12-month price target of $56 implying 36% total return upside relative to our coverage median of 13% — despite a more defensive earnings mix. We base our upgrade on (1) recent underperformance, with CQP units underperforming the AMNA by 19% YTD, (2) its defensive and largely contracted asset base that offers visibility into stable cash flows and (3) upside to consensus from tailwinds to CQP’s commodity margins from global natural gas prices."
Shares of Cheniere Energy Partners, LP closed at $43.07 yesterday.
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