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$3.21 -0.03 (-0.93%)
7/23/2008 4:00 PM

Cheniere Energy, Inc. (LNG)

CAPS Rating:
**

The Company is engaged primarily in the business of developing and constructing, and then owning and operating, a network of three onshore LNG receiving terminals, and related natural gas pipelines, along the Gulf Coast of the United States.

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Avatar synergize (98.71) Submitted: 5/15/08 1:27 AM : Underperform Start Price: $4.76 LNG Score: -40.22

Analysts at RBC Capital Markets downgrade Cheniere Energy Inc (LNG) from "outperform" to "underperform." The target price has been reduced from $20 to $1.

In a research note published this morning, the analysts mention that the company had understated its capital costs needed for the completion of the Creole Trail pipeline by about $47 million in its 2007 10K filing. After its 10K, Cheniere Energy had raised its cost estimate for the pipeline from $550 million to $560 million, which increases the $47 million deficit to $57 million, the analysts say. The company is likely to have a debt of $64 million by March 2010, RBC Capital Markets adds.

Reports and Links:
Cheniere Energy downgraded to "underperform"
http://www.newratings.com/en/main/company_headline.m?id=1744...

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