China resumes LNG spot purchases as prices slide
Written by Emily J. Thompson, Senior Investment Analyst
Source: SeekingAlpha
Chinese LNG Purchases: Chinese firms have resumed buying liquefied natural gas from the spot market after a period of inactivity, with at least two shipments acquired last week at $10 per million British thermal units due to declining prices.
Market Outlook: Despite a 24% drop in LNG deliveries from January to April compared to last year, experts predict that prices could rise significantly by the end of the year if current trends continue.
Analyst Views on UNG
Wall Street analysts forecast UNG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for UNG is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 13.640
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Current: 13.640
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
