UPDATE: Citigroup Reiterates Buy/High Risk Rating, Raises PT for Cheniere Energy

In a company update published earlier today, Citigroup Inc. reiterated its Buy/High Risk rating for Cheniere Energy, Inc. (NYSE: LNG) and raised its price target from $16.00 to $26.00.

Citigroup went on to say “We believe the key catalysts (besides moving past the remaining risks above) to unlock the value in the stock are either 1) time, which reduces the execution risk in the stock as the facility approaches full operation; or 2) a take-out of the company. An acquiring company with a lower cost of capital and experience in managing multi-billion dollar projects could extract significant synergies on top of our current valuation. At this point, the path of least resistance is time.”

Cheniere Energy, Inc. closed yesterday at $13.04.