NextDecade rises after Morgan Stanley lifts PT

Liquefied natural gas producer NextDecade's NEXT.O shares up 12.9% at $10.40

Morgan Stanley raises PT on NEXT to $15 from $10

New PT an upside of 62.8% to stock's last close

Brokerage says improved regulatory backdrop has pushed several U.S. LNG projects toward formal approval

NEXT's Rio Grande LNG facility in Texas has three liquefaction trains with a capacity of 48 million tonnes per year; trains 4 and 5 are being commercialized

"We expect FIDs and financing of trains 4 and 5 by mid-Sept and also inclusion of Train 5 to our base case boosts the PT" - Morgan Stanley

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

Including session's moves, NEXT up 34.9% YTD