Why NextDecade Stock Trounced the Market on Tuesday
Liquefied natural gas (LNG) company NextDecade's (NASDAQ: NEXT) stock was the next big thing for many investors on Tuesday. They sent its price up by nearly 7% following a rather bullish new analyst take on the energy specialist. That was more than good enough to beat the performance of the S 500 index, which slipped by 1.2% on the day.
Well before market open, Benjamin Nolan at Stifel upgraded his recommendation on NextDecade stock. He now views the LNG company's shares as a buy, where formerly he had a neutral stance. He also raised his price target to $9 per share from the preceding $7.50.
Nolan is particularly encouraged by a recent move by NextDecade. Last month, the company announced that it made a final investment decision (FID) to build three liquefaction trains at its Rio Grande export facility located in Texas. This is the first phase of an expansion of its business.
Source Fool.com
