Analysts Call Venture Global (VG) a Top Falling Buy After 260% Revenue Surge

Venture Global Inc. (NYSE:VG) is one of the best falling stocks to buy, according to Wall Street analysts. On November 26, JPMorgan cut its Venture Global Inc. (NYSE:VG) price target to $10 from $16 but maintained an Overweight rating, citing revised models reflecting spreads and arbitration impact.

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On November 10, the company delivered impressive third-quarter results characterized by robust earnings and revenue growth. Revenue in the quarter increased 260% to $3.3 billion as income from operations increased 598% to $1.3 billion. Additionally, the company bounced back to profitability, reporting net income of about $400 million, representing a $776 million year-over-year increase. Net income growth is attributed to higher income from operations of $1.1 billion, driven by $1.9 billion in LNG sales volumes at the Plaquemines Project.

The better-than-expected results come on the company exporting 100 cargoes totaling 372 TBtu of liquefied natural gas, setting a new record. Nevertheless, the company lowered its adjusted EBITDA guidance for the year to $6.35-$6.50 billion, down from $6.40-$6.80 billion. The reduction takes into account a lower assumed fixed liquefaction fee on the remaining unsold cargos.

Meanwhile, Bank of America Securities analyst Jean Ann Salisbury reiterated a Buy rating on the stock with a $15 price target on November 14.

Venture Global, Inc. (NYSE:VG) is a producer and exporter of low-cost US liquefied natural gas (LNG). The company is involved in the entire LNG supply chain, from production and transport to shipping. It operates LNG export facilities in Louisiana and is developing additional projects, including large-scale Carbon Capture and Sequestration facilities.

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Disclosure: None. This article is originally published at Insider Monkey.