New Fortress Energy price target lowered to $8 from $34 at Citi

Citi lowered the firm’s price target on New Fortress Energy (NFE) to $8 from $34 and keeps a Buy rating on the shares. As the utility space has largely been defensive over the last week, Citi sees “the dislocation creating select opportunities,” the analyst tells investors in a research note. The firm cut its price target for New Fortress citing the company’s “fresh challenges.”