TD Cowen upgrades NextDecade to 'buy', raises PT

TD Cowen upgrades rating on liquefied natural gas producer NextDecade NEXT.O to "buy" from "hold", raises price target to $11 from $9

NEXT shares up 4.3% in premarket trading

New PT represents a 33.6% upside to stock's last close

Brokerage says there is increased visibility to more project sanctions

"We upgrade NEXT to Buy as we have line-of-sight to Rio Grande LNG not only sanctioning Train 4, but also Train 5" - TD Cowen

3 of 3 brokerages rate the stock "buy"; median PT is $10 - data compiled by LSEG

Up till last close, stock up 6.7% YTD