Cheniere Energy upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Devin McDermott upgraded Cheniere Energy (LNG) to Overweight from Equal Weight with a price target of $72, up from $55. The upgrade follows the damage to Qatar’s liquified natural gas plant in Ras Laffan. Expansion delays at Ras Laffan create a large LNG shortfall this year and mitigate oversupply risk in 2027 and 2028, the analyst tells investors in a research note. Morgan Stanley says that even with a near-term resolution to the Middle East conflict, the global gas market will need to contend with refilling inventories amid a large supply loss, creating upside price risks. The firm upgraded its LNG industry view to In-Line and upgraded both Venture Global and Cheniere Energy to Overweight.