Excelerate Energy down after JPM downgrades to 'underweight'

Excelerate Energy

07/01/2025 19:06

** Shares of LNG firm Excelerate Energy  EE.N  down as much as 13.6% at $27.38
    ** Brokerage J.P. Morgan downgrades stock to "underweight" from "neutral"
    ** Cites EE's largely flattish EBITDA over 2023 to 2025, a period of steady growth among cos
in brokerage's coverage, despite many growth avenues outlined at co's IPO
    ** Says co's growth track record is "not as established" due to its current relatively small
project suite; sees business risk to co conducting operations in developing countries
    ** However raises PT to $31 from $22 to reflect full-year contributions for co's "Hull 3407"
floating storage and regasification unit, delivery expected June 2026
    ** Six of ten brokerages rate the stock "buy" or higher, two "hold" and two "sell", with a
median PT of $31
    ** EE's shares rose ~96% last year

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com))