Cheniere Energy Partners price target raised to $71 from $55 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Cheniere Energy Partners (CQP) to $71 from $55 and keeps an Equal Weight rating on the shares. Last week, President Trump lifted the Biden administration’s pause on new Department of Energy permits for LNG export facilities and while this does not change the outlook for projects already under construction, it does ease the path for new facilities to advance, the analyst tells investors. Given this, the firm now includes Cheniere’s (LNG) SPL Expansion project of 20 mtpa in its base case versus its prior view of this being in the bull case.