Why Tellurian Rose on a Down Day for the Markets
Shares of Tellurian (NYSEMKT: TELL) rose on Tuesday, up just over 2.9%, even as the broader markets declined.
The company, whose principal asset is its under-construction liquified natural gas (LNG) terminal, rose on the back of increasing natural gas prices, as well as an upgrade from an otherwise skeptical Wall Street analyst.
On Tuesday, Bank of America analyst Julien Dumoulin-Smith upgraded his rating on Tellurian shares from neutral to buy, even though he also cut his price target from $6.50 to $4.50 in the process. Shares currently trade around $3.50, down from a high of $6.54 in early April on the heels of Russia's invasion of Ukraine.
Source Fool.com
