New Fortress Energy Inc. (NFE, Financial) is trading close to its 52-week low of $7.82, but Wall-Street estimate's point to a possible 60.03% upside, so presenting the stock as a possible bargain play. Wall-Street consensus points to an average 12-month price target at $17.07.
Analyst projections vary greatly, from a low estimate of $7.60 to a high of $34.00. Of the eight brokerage companies tracking the stock, three say "Buy," three say "Outperform," two say "Neutral," and one says "Underperform." With a consensus rating of 2.3, the overall "Outperform" status highlights hope restrained by recognized hazards.
Aiming at delaying maturities and improving liquidity, NFE has been working on projects to strengthen its financial situation including a $2.7 billion debt refinancing. In order to assist important projects across Latin America, the corporation is also aggressively looking for strategic alliances; lately, the Fast LNG facility in Mexico reached a turning point with its first liquefied natural gas (LNG) production.
Notwithstanding these calculated initiatives, the stock has been under constant pressure, which reflects the difficulties NFE has to negotiate. Still, the company is a possible turnaround target for investors looking for value because analysts estimate great upside.
