Home Top Movers NextDecade Corp. (NEXT) stock rises during current market trading. Here’s what you...

NextDecade Corp. (NEXT) stock rises during current market trading. Here’s what you should know?

NextDecade Corp. (NASDAQ: NEXT) stock gained by 50.29% in the current market trading session. NextDecade Corporation is focused on bringing greener energy to the globe. NextDecade is building a 27 mtpa LNG export plant in South Texas, as well as one of the biggest carbon capture and storage facilities in North America, via its fully owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions.

What is happening?

Morgan Stanley raised its price target for NextDecade from $2 to $6, and raised its rating from “equal weight” to “overweight.” Even with Monday’s surge, that new objective is still more than 80% higher than the present price. The belief that a worldwide natural gas market recovery is “well started” underpins the rating.

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NextDecade, according to Morgan Stanley, stands out in its market because its carbon-capture project will allow it to generate low-carbon LNG, which should improve its chances of making a final investment decision on its planned Rio Grande LNG project. Furthermore, increasing natural gas costs and a predicted capacity shortage in the coming years might benefit NEXT.

Morgan Stanley upgraded shares of competitor Tellurium from “underweight” to “equal weight” as a result of the strengthening market circumstances, raising the stock’s price objective from $2 to $8, roughly 90% higher than its current level. After clinching major LNG purchase agreements, Tellurium’s Driftwood LNG project is also nearing a final investment decision.

However,

Energy demand is beginning to recover from the drop it experienced during the pandemic. As a result, it’s looking more and more likely that NextDecade will be able to proceed with its long-awaited Rio Grande LNG project. For investors, this has the potential to provide a large quantity of cash flow. If NEXT can move through with that game-changing concept, the stock should skyrocket.

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