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Friday, August 05, 2022 10:38:40 AM
MT NEWSWIRES 10:55 PM ET 8/4/2022
12:55 AM EDT, 08/05/2022 (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 $170, up $2, reflects a 9.5x multiple of enterprise value to projected '23 EBITDA, a slight discount to LNG's historical forward average. We lift our '22 EPS estimate by $1.96 to $19.95, and similarly '23's by $0.55 to $13.12. Q2 EPS of $5.41, vs. $0.07, beat the consensus view by $1.67. The company has generated almost as much operating cash flow in 1H '22 as it did through all of 2019-2021, an illustration of just how strong overseas demand for U.S. natural gas has gotten. The company is harnessing those tailwinds to grow organically (its recently-approved Corpus Christi Stage 3 will add 10 mtpa in new capacity, or a 22% increase once completed). We think the next key catalyst should be debt reduction, and expect management to put together a revised capital allocation plan towards year end '22 that could meaningfully reduce the existing long-term debt balance of $26 billion (vs. cash and equivalents of $2.6 billion).
MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
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