BUZZ-BTIG cuts New Fortress Energy's PT on near-term debt maturity repayments
Reuters · 6d ago
Share
Listen to the news
** Brokerage BTIG cuts PT for U.S.-based energy infrastructure firm New Fortress Energy NFE.O to $15 from $35
** The PT represents a 28% downside to the stock's last close
** With NFE bonds trading down over the last few weeks, brokerage expects the bond market to drive NFE's stock price down until co addresses its -term debt maturities
** Brokerage sees a path for co to refinance its -term debt maturities, "which we would expect to be a positive catalyst for the stock"
** However, refinancing to increase interest expense by around $200 mln, says BTIG
** Avg rating of eight brokerages is "buy"; median PT is $20 - LSEG data
** Stock down 71.08% YTD, as of last close
(Reporting by Pooja Menon in Bengaluru)
Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
What's Trending
No content on the Webull website shall be considered a recommendation or solicitation for the purchase or sale of securities, options or other investment products. All information and data on the website is for reference only and no historical data shall be considered as the basis for judging future trends.
Copyright © 2024 Webull. All Rights Reserved