Cheniere Energy price target raised to $255 from $195 at Morgan Stanley

Morgan Stanley analyst Devin McDermott raised the firm’s price target on Cheniere Energy (LNG) to $255 from $195 and keeps an Overweight 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 SPL Expansion project of 20 mtpa in its base case versus its prior view of this being in the bull case.