Excelerate Energy Boosted by Wells Fargo Upgrade Amid Expanded Growth Opportunities
ByAinvest
Tuesday, Aug 12, 2025 3:31 pm ET1min read
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During Excelerate Energy's Q2 2025 earnings call, CEO Steven M. Kobos highlighted the company's strong financial performance and the significant contributions from the recently acquired assets in Jamaica. The acquisition included the Montego Bay and Old Harbour LNG terminals, the Clarendon combined heat and power plant, and numerous small-scale regasification facilities. Kobos noted that these assets are already generating meaningful earnings and are expected to contribute an incremental EBITDA of $80 million to $110 million by 2030, backed by $200 million to $400 million in growth CapEx.
The acquisition has also strengthened Excelerate's balance sheet, with the company reporting a total debt of $1.3 billion, $426 million in cash and cash equivalents, and a net debt of $867 million as of June 30, 2025. The company's adjusted EBITDA guidance for 2025 was raised to between $420 million and $440 million, reflecting the full impact of the Jamaica acquisition.
Wells Fargo's upgrade to Equal Weight underscores the company's potential for growth beyond its existing LNG projects. The upgrade is based on the company's ability to generate predictable earnings through long-term take-or-pay contracts and its strategic expansion into the Caribbean market.
References:
[1] https://seekingalpha.com/news/4483335-excelerate-outlines-80m-110m-incremental-ebitda-target-by-2030-amid-strong-jamaica
[2] https://www.reuters.com/business/energy/nextdecade-secures-18-billion-totalenergies-gip-rio-grande-lng-project-2025-08-12/
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Wells Fargo upgraded Excelerate Energy (NYSE:EE) to Equal Weight from Underweight with a $26 price target, raised from $23, due to an expanded organic growth opportunity set following the Jamaica acquisition. The upgrade reflects the company's potential for growth beyond its existing liquefied natural gas (LNG) projects.
Wells Fargo & Company (WFC) has upgraded its rating for Excelerate Energy (NYSE: EE) to Equal Weight from Underweight, with a revised price target of $26, up from $23. The upgrade reflects the company's expanded organic growth opportunities following its acquisition of strategic assets in Jamaica.During Excelerate Energy's Q2 2025 earnings call, CEO Steven M. Kobos highlighted the company's strong financial performance and the significant contributions from the recently acquired assets in Jamaica. The acquisition included the Montego Bay and Old Harbour LNG terminals, the Clarendon combined heat and power plant, and numerous small-scale regasification facilities. Kobos noted that these assets are already generating meaningful earnings and are expected to contribute an incremental EBITDA of $80 million to $110 million by 2030, backed by $200 million to $400 million in growth CapEx.
The acquisition has also strengthened Excelerate's balance sheet, with the company reporting a total debt of $1.3 billion, $426 million in cash and cash equivalents, and a net debt of $867 million as of June 30, 2025. The company's adjusted EBITDA guidance for 2025 was raised to between $420 million and $440 million, reflecting the full impact of the Jamaica acquisition.
Wells Fargo's upgrade to Equal Weight underscores the company's potential for growth beyond its existing LNG projects. The upgrade is based on the company's ability to generate predictable earnings through long-term take-or-pay contracts and its strategic expansion into the Caribbean market.
References:
[1] https://seekingalpha.com/news/4483335-excelerate-outlines-80m-110m-incremental-ebitda-target-by-2030-amid-strong-jamaica
[2] https://www.reuters.com/business/energy/nextdecade-secures-18-billion-totalenergies-gip-rio-grande-lng-project-2025-08-12/
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