Morgan Stanley Raises Price Target on Excelerate Energy, Inc. (EE)

Excelerate Energy, Inc. (NYSE:EE) is one of the 13 best oil and gas storage stocks to buy according to hedge funds.

On February 24, Morgan Stanley maintained an Equal Weight rating on Excelerate Energy, Inc. (NYSE:EE), and raised the stock’s target price from $30 to $40. The firm noted that the company’s secured cash flow streams and LNG demand growth exposure have positioned it favorably relative to peers, particularly in a weaker pricing environment.

However, the firm also warned that the global LNG market appears to be moving towards oversupply, which leads it to have a cautious stance on the broader U.S. sector.

Back on February 6, Deutsche Bank reaffirmed its Buy rating on Excelerate Energy, Inc. (NYSE:EE). The firm also increased the stock’s target price from $35 to $44, resulting in a double-digit upside potential of over 11%. The upward revision was part of Deutsche’s fourth-quarter preview, resulting in an upside to its forecasts.

Excelerate Energy, Inc. (NYSE:EE) is an integrated liquefied natural gas (LNG) solutions company that delivers regasification services worldwide. Its offerings include floating storage and regasification units, infrastructure development, and LNG and natural gas supply. The company is known for providing flexible and trusted LNG-to-power solutions.

READ NEXT: 15 Most Promising Mid-Cap Healthcare Stocks Under $50 and 11 Most Promising Small-Cap Industrial Stocks Under $50.

Disclosure: None. Follow Insider Monkey on Google News.