NextDecade price target lowered to $7 from $10 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on NextDecade (NEXT) to $7 from $10 and keeps an Equal Weight rating on the shares. 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. For NextDecade specifically, near-term catalysts remain limited as its portfolio of projects is under construction, the analyst noted.