UBS joins bull camp on LNG exporter Venture Global

UBS starts coverage of liquefied natural gas firm Venture Global VG.N with a bullish rating and sees >50% upside

Brokerage initiates with 'buy' rating and $14 PT, ~56% above stock's last close

VG shares down 2.6% at $8.75 before the bell as equity futures tumble as trade war intensifies .N

UBS says believes VG differentiates itself by using prefabricated and modular trains giving them the benefit of lower costs and speed to market delivery

The analysts see capacity increasing from current 30 million metric tons per annum (mpta) to 69 mln mpta by 2030, driven by Calcasieu Pass phase 2 and brownfield expansion at Plaquemines, its plants in Lousiana

VG shares trading at 2.9% discount to peer group after recent selloff, UBS says, adding it believes once co demonstrates better track record of execution it can close the valuation gap given "very strong" volume growth prospects

Co's stock slumped last month after its 2025 core profit forecast missed Wall Street's expectations

Avg rating among 12 brokerages is "buy" and median PT is $14, LSEG data shows

Co debuted in Jan after IPO priced at $25