Venture Global, Inc. (NYSE:VG) is included among the The 14 Best Infrastructure Stocks to Buy Now.
Venture Global, Inc. (NYSE:VG) develops and builds LNG export projects to provide clean, affordable energy to the world. The company is currently one of the largest LNG exporters in the United States.
On April 14, JPMorgan analyst Jeremy Tonet cut the company’s price target on Venture Global, Inc. (NYSE:VG) from $19 to $16, while maintaining a “Neutral” rating on the stock. The lowered target, which still indicates a nearly 28% increase from current levels, comes as the analyst firm updated the company’s model ahead of its upcoming first-quarter report.
While JP Morgan expects Venture Global, Inc. (NYSE:VG) to be weighed down by dislocations, it expects high spot LNG prices to boost the company’s earnings this year. The blockage of the Strait of Hormuz has choked off around 20% of the world’s LNG supply. Additionally, the Iranian attack on QatarEnergy forced it to halt LNG production last month, with the company warning that the disruption could eliminate more than 12 million mtpa of supply for up to five years. Supply disruptions have sent LNG spot prices soaring, especially in Asia, where buyers are now looking for alternatives.
Venture Global, Inc. (NYSE:VG) targets consolidated EBITDA in the range of $5.2 billion to $5.8 billion by fiscal 2026.
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