Venture Global price target lowered to $16 from $17.50 at Goldman Sachs

Goldman Sachs analyst John Mackay lowered the firm’s price target on Venture Global (VG) to $16 from $17.50 and keeps a Buy rating on the shares. A meeting with Venture Global’s management focused on arbitration case timelines, funding strategies for potential outcomes, and strong momentum in securing new SPAs, including a recent 20-year deal with Mitsui, the analyst tells investors in a research note. While EBITDA estimates were modestly reduced due to accounting reserves and lower gas price assumptions, operational progress and contract growth support confidence in the company’s medium-term expansion toward 100 mtpa, with the recent stock sell-off viewed as overdone, Goldman says.