NextDecade downgraded to Hold from Buy at TD Cowen

TD Cowen analyst Jason Gabelman downgraded NextDecade (NEXT) to Hold from Buy with a price target of $8, down from $11. The company’s updated guidance implies $14 of share value, though embeds a spot margin $2 per MCF higher than expected as the global gas market faces oversupply later this decade, the analyst tells investors in a research note. TD expects the stock to move with global gas prices moving forward.”