Morgan Stanley raised the firm’s price target on Excelerate Energy (EE) to $25 from $23 and keeps an Equal Weight rating on the shares. After having hosted Excelerate’s CFO Dana Armstrong and VP of IR & ESG Craig Hicks for investor meetings, the firm raised its price target after discussing the company’s Q3 beat and EBITDA guidance raise as well as updates on its growing vessel fleet. However, after a strong 2024, the firm believes further execution on growth is needed for the stock to outperform peers from here, the analyst added.
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Read More on EE:
- Excelerate Energy price target raised to $22 from $19 at Wells Fargo
- Excelerate Energy price target raised to $29 from $25 at Northland
- Excelerate Energy Reports Strong Q3 2024 and Raises Guidance
- Excelerate Energy reports Q3 EPS 35c, consensus 31c
- Excelerate Energy sees FY24 adjusted EBITDTA $335M-$345M