NEXT - NextDecade soars after Morgan Stanley upgrades on Rio Grande LNG outlook
NextDecade ([[NEXT]] +25.6%) skyrockets to a YTD high in early trading after Morgan Stanley upgrades shares to Overweight from Equal Weight and raises the stock price target to $6 from $2, as the global gas market recovery is "well underway."NextDecade's carbon capture venture "created a commercialization differentiator" and boosted the company's prospects of reaching a final investment decision on its proposed Rio Grande LNG facility, and prospects for the project have improved even more with the spot LNG market strengthening and an impending capacity shortfall in the coming years, according to Morgan Stanley analysts led by Devin McDermott.Morgan Stanley also upgrades Tellurian ([[TELL]] +1.5%) to Equal Weight from Underweight with an $8 price target, up from $2, citing a likely path toward FID on the proposed Driftwood LNG project after signing two large 3M tons/year offtake agreements (I, II), which also mark a shift in marketing strategy toward standard sales
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NextDecade soars after Morgan Stanley upgrades on Rio Grande LNG outlook