JPMorgan downgraded Excelerate Energy (EE) to Underweight from Neutral with a price target of $31, up from $22. During a period of steady growth among midstream companies, JPMorgan sees Excelerate’s EBITDA as largely flattish over through 2025, despite the many growth avenues outlined at the initial public offering, the analyst tells investors in a research note. The firm says the company’s growth expected at the IPO “has taken notable time to materialize, leaving a track record that has not kept up with the rest” of the group. When looking into 2025 and balancing its ratings in consideration of expected total returns, JPMorgan downgrade Excelerate Energy to an Underweight.
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Read More on EE:
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