Venture Global price target raised to $16 from $13 at Scotiabank

Scotiabank analyst Brandon Bingham raised the firm’s price target on Venture Global (VG) to $16 from $13 and keeps a Sector Perform rating on the shares. While Q2 was challenging, companies in the U.S. Midstream sector largely maintained their FY outlooks, the analyst tells investors. Scotiabank continues to favor Permian-levered names with a preference for gas given the basin’s highest relative resiliency in a lower commodity price tape.