Morgan Stanley raised the firm’s price target on Excelerate Energy (EE) to $40 from $30 and keeps an Equal Weight rating on the shares. The company’s contracted cash flows and direct exposure to demand growth make it a “relative winner” in a falling price environment, the analyst tells investors in a research note. Morgan Stanley says the global LNG market is positioned to move into oversupply. As a result, it shifted its U.S. industry view to Cautious from In-Line.
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