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Upgrade Alert for Cheniere Energy Partners (CQP)

By David Diaz

Cheniere Energy Partners (AMEX:CQP) was upgraded from Neutral to Buy at UBS today. The stock closed yesterday at $27.58 on volume of 6,000 shares, below average daily volume of 187,000.

In the past 52 weeks, Cheniere Energy Partners share prices have been bracketed by a low of $19.22 and a high of $34.55 and closed yesterday at $27.40, 43% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

Cheniere Energy Partners, L.P., through its subsidiary, will develop, own, and operate the Sabine Pass LNG receiving terminal currently under construction in western Cameron Parish, Louisiana on the Sabine Pass Channel.

Cheniere Energy Partners (AMEX:CQP) has potential upside of 39.0% based on a current price of $27.40 and analysts' consensus price target of $38.09. The stock should hit resistance at its 50-day moving average (MA) of $28.26, as well as support at its 200-day MA of $26.78.

SmarTrend is tracking the current trend status for Cheniere Energy Partners and will alert subscribers who have CQP in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades amex:cqp cheniere energy partners

Ticker(s): CQP