New Fortress Energy sells Jamaican assets to Excelerate Energy for $1.06 billion. This divestiture enhances Excelerate Energy's LNG portfolio significantly.
JP Morgan downgraded EE from Neutral to Underweight, raising price target to $31. EBITDA growth is expected to be flat from 2023 to 2025 despite growth opportunities. EE's 2024 performance outpaced AMNA index, but risks in emerging markets persist. Analyst highlights concerns over contract law and local market risks in developing countries. Market response shows EE shares down 6.78%, indicating negative investor sentiment.
- Excelerate Energy reported earnings of $0.24 per share, beating estimates by 14.29%. - Revenues for the quarter were $200.11 million, missing estimates by 21.60%. - Share price has increased by 17% this year, outperforming the S&P 500. - Zacks Rank #1 (Strong Buy) with favorable estimate revisions trend. - The industry ranks in the top 34% of Zacks-ranked industries. Price Impact Rating: Bullish Impact Horizon Rating: Short-term Type: Earnings