Venture Global initiated with a Sector Perform at Scotiabank

Scotiabank initiated coverage of Venture Global (VG) with a Sector Perform rating and $17 price target The firm says the “nascency” of the company’s operations gives it pause. Venture’s elevated commodity price exposure has the potential to drive its earnings and cash flow rate of change well beyond the company’s more established infrastructure peers, but the inverse is also true, with declining prices slashing implied equity value, the analyst tells investors in a research note.