Feb. 24 at 11:41 AM
$VG 05:37 EST Morgan Stanley initiated coverage of Venture Global with an Underweight rating and
$8 price target.
The company offers strong growth but its elevated commodity exposure brings risks as the liquified natural gas market weakens, the analyst tells investors in a research note.
Morgan Stanley says the global LNG market is positioned to move into oversupply. As a result, it shifted its U.S. industry view to Cautious from In-Line.