RBC, JPM Start Coverage on Venture Global With Bullish Rating on Rising LNG Demand

** JPM starts coverage with “overweight” rating and $25 PT; RBC starts coverage with “outperform” and $20 PT

** Shares of VG up at 1.88% at $16.26 premarket

** Both brokerages began coverage following the expiry of the mandated quiet period.

** Both JPM and RBC see VG as a key player in the LNG industry due to its efficient project execution, low-cost LNG production, and growth potential

** “Venture’s “design one, build many” modular approach has disrupted the industry. VG seeks to leverage secular LNG demand…for rapid growth” – JPM

** “VG can benefit from LNG sales during the longer commissioning process,” RBC says

** Shares of VG have been trading below IPO price of $25 having debuted at $24.05 last month

(Reporting by Rashika Singh in Bengaluru)