Cheniere Energy initiated with a Neutral at Redburn Atlantic

Redburn Atlantic analyst Peter Low initiated coverage of Cheniere Energy with a Neutral rating and $162 price target. The analyst sees “a lot to like” about Cheniere, saying the ramp up of Corpus Christi Stage 3 will see EBITDA grow 20% over the next two years while the company’s high level of contract coverage protects it from a potential liquified natural gas glut in 2027 and 2028. However, Cheniere ‘s near-term growth is already reflected in consensus expectations and the stock’s valuation looks fair, the analyst tells investors in a research note.