Cheniere Energy target lifted to $47 at Deutsche Bank

|About: Cheniere Energy Partners, LP (CQP)|By:, SA News Editor

Cheniere Energy's (LNG +2.9%) price target is raised to $47 from $39 at Deutsche Bank, which also maintains a Buy rating on the stock, based on higher EBITDA expected from the underlying Cheniere Energy Partners (CQP) MLP, the inclusion of Corpus Christi at a valuation of ~$470M ($2/share) and the inclusion of Trains 5 and 6 at ~$450M ($2/share).

At CQP, the firm says the inclusion of projected CMI EBITDA of $145M for Trains 1-4 continues to appear conservative based on its macro view of worldwide liquefied natural gas fundamentals and additional capacity at Sabine Pass and Corpus Christi will add to volume potential.