TD Cowen lowered the firm’s price target on NextDecade (NEXT) to $6 from $7 and keeps a Hold rating on the shares. The firm updated its model after the company said they have locked in spot margins for 2027 at $3/mcf, below $5 embedded in its financials. It provided a financing scenario at $3 margin in which it would increase contracted capacity and project-level debt; which Cowen sees as a positive.
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