Morgan Stanley analyst Devin McDermott lowered the firm’s price target on New Fortress Energy (NFE) to $4 from $13 and keeps an Equal Weight rating on the shares. After Q1 results came in meaningfully below consensus and the firm’s estimates and forward “core EBITDA” guidance fell about 30% below the firm’s prior estimate, the firm cut its 2025-26 EBITDA estimates by about 30%, which it sees “further increasing risks to the company’s financial position,” the analyst tells investors.
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