** UBS starts coverage of liquefied natural gas firm Venture Global VG.N with a bullish rating and sees >50% upside

** Brokerage initiates with 'buy' rating and $14 PT, ~56% above stock's last close

** VG shares down 2.6% at $8.75 before the bell as equity futures tumble as trade war intensifies .N

** UBS says believes VG differentiates itself by using prefabricated and modular trains giving them the benefit of lower costs and speed to market delivery

** The analysts see capacity increasing from current 30 million metric tons per annum (mpta) to 69 mln mpta by 2030, driven by Calcasieu Pass phase 2 and brownfield expansion at Plaquemines, its plants in Lousiana

** VG shares trading at 2.9% discount to peer group after recent selloff, UBS says, adding it believes once co demonstrates better track record of execution it can close the valuation gap given "very strong" volume growth prospects

** Co's stock slumped last month after its 2025 core profit forecast missed Wall Street's expectations

** Avg rating among 12 brokerages is "buy" and median PT is $14, LSEG data shows

** Co debuted in Jan after IPO priced at $25

(Lance Tupper is a Reuters market analyst. The views expressed are his own))

(( lance.tupper@tr.com 1-646-279-6380))