Citigroup raises PT on Cheniere Energy

Citigroup raises price target of LNG exporter Cheniere Energy LNG.N to $283 from $275

The new price target represents an upside of 17.1% to the stock's last close

Brokerage raises PT to reflect lower cash tax assumptions that are boosting cash flows estimates

Beyond 2025, Cheniere expects the cash tax rate to remain under 10% through the end of the decade vs Citi's prior estimates of ~17%

Brokerage expects this adjusted tax outlook to "represent a >$1.5bln" cash tailwind

21 of 24 brokerages rate the stock "buy" or higher, 3 rate it "hold"; their median PT is $267 - data compiled by LSEG

As of last close, stock is up 12.4% YTD