Deutsche downgrades Venture Global on valuation into earnings

Deutsche Bank downgraded Venture Global (VG) to Hold from Buy with a price target of $17, up from $13.50. The firm cites valuation for the downgrade ahead of the company’s Q2 results with the shares near the new price target Venture Global’s longer term valuation is challenged by the lack of liquidity in the Title Transfer Facility curve as well as the company’s spending on the Calcasieu Pass 2 development, the analyst tells investors in a research note.