Cheniere Energy downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Devin McDermott downgraded Cheniere Energy (LNG) to Equal Weight from Overweight with a price target of $236, down from $258. Morgan Stanley says the global LNG market is positioned to move into oversupply. As a result, it shifted its U.S. industry view to Cautious from In-Line. While Cheniere has limited direct pricing exposure, its shares are trading near fair value, the analyst tells investors in a research note.