Citi forecasts Venture Global Q1 adjusted EBITDA below Street view

Noting that Venture Global (VG) pre-reported Q1 cargos and liquefaction fees, Citi analyst Spiro Dounis says that the firm forecasts Q1 adjusted EBITDA of $1.2B, below the Street mean view of $1.6B. Venture’s CP2 project now has a conditional DOE approval and awaits a final FERC approval, which could come in or before June, adds the analyst, who thinks market focus will be on additional commercialization to underwrite expansions and an update on CP2 financing. The firm has a Neutral rating and $11 price target on Venture Global shares.