Excelerate Energy initiated with a Buy at Jefferies

Jefferies initiated coverage of Excelerate Energy (EE) with a Buy rating and $39 price target The company offers a unique opportunity for exposure to long-term LNG demand tailwinds through its floating storage and regasification units, or FSRU, and regasification infrastructure that has stable contracted cash flows and minimal commodity risk, the analyst tells investors in a research note. Excelerate is capitalizing on this by growing its asset base and enhancing integration with a FSRU newbuild, LNG SPA contracts, and acquiring New Fortress Energy’s Jamaican LNG-to-power assets, the firm added.