Venture Global downgraded to Neutral from Outperform at Mizuho

Mizuho analyst Gabriel Moreen downgraded Venture Global (VG) to Neutral from Outperform with a price target of $12, down from $17, after Venture announced it received notice of an arbitration decision involving BP (BP), a customer at CP1. The arbitrator having found Venture “breached its obligations to declare COD” at CP1 in a timely manner “comes as a negative surprise,” says the analyst, who sees shares being capped until further clarity on the arbitration emerges.