BUZZ-RBC, JPM start coverage on Venture Global with bullish rating on rising LNG demand

Reuters
02-18
BUZZ-RBC, JPM start coverage on Venture Global with bullish rating on rising LNG demand

** RBC and J.P.Morgan start coverage on U.S. liquefied natural gas $(LNG)$ company Venture Global VG.N with a bullish rating

** JPM starts coverage with "overweight" rating and $25 PT; RBC starts coverage with "outperform" and $20 PT

** Shares of VG up at 1.88% at $16.26 premarket

** Both brokerages began coverage following the expiry of the mandated quiet period

** Both JPM and RBC see VG as a key player in the LNG industry due to its efficient project execution, low-cost LNG production, and growth potential

** "Venture’s "design one, build many" modular approach has disrupted the industry. VG seeks to leverage secular LNG demand...for rapid growth" - JPM

** "VG can benefit from LNG sales during the longer commissioning process," RBC says

** Shares of VG have been trading below IPO price of $25 having debuted at $24.05 last month

(Reporting by Rashika Singh in Bengaluru)

((rashika.singh@thomsonreuters.com))

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