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New Fortress Energy price target lowered to $16 from $19 at Stifel

New Fortress Energy price target lowered to $16 from $19 at Stifel

Stifel lowered the firm’s price target on New Fortress Energy (NFE) to $16 from $19 and keeps a Buy rating on the shares. The company still has far too much leverage, and the sooner they are able to improve the balance sheet and build the bridge to future cash flows, the better, the analyst tells investors in a research note. The 10-K did include tempered going concern language, and the firm still views this as a binary name given the credit profile, but if the company is able to successfully improve liquidity and increase cash flows, it sees substantially more upside relative to the downside risk.

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