Cheniere Energy Inc (LNG)

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Research Alert: CFRA Keeps Buy Opinion On Shares Of Cheniere Energy

12:20 AM EDT, 05/05/2022 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of $168, raised $25, reflects a 10.5x multiple of enterprise value to projected '23 EBITDA, in line with LNG's historical forward average. We lift our '22 EPS estimate by $7.97 to $17.99, and '23's by $4.68 to $12.57. Ex-one time items, Q1 EBITDA of $3.15B, vs. $1.45B, beat consensus by $1.24B. LNG recognized $3.46B in non-cash derivative losses in Q1 (pre-tax) on international gas supply agreements. Nonetheless, LNG raised its '22 adjusted EBITDA guidance to a revised $8.2B - $8.7B range, reflecting strong demand from overseas customers for U.S.-based natural gas. Cheniere is considering approval of Corpus Christi Stage III, which if approved would add 10 metric tonnes per annum (mtpa) of natural gas liquefaction capacity, an increase of 22%. While Cheniere still carries a sizable debt load, it has no remaining debt milestones in '22, and $1.5B of debt maturing in April '23. At the end of Q1, LNG had a cash balance of $2.5B.

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