Here's Why Tellurian Stock Dropped 21.4% in July
Shares of Tellurian (NASDAQ: TELL) fell over 21% last month, according to data provided by S&P Global Market Intelligence. The integrated natural gas company is years away from shipping its first cargo of liquefied natural gas (LNG), which caused Stifel analyst Benjamin Nolan to downgrade the stock from buy to hold and slash his target price from $16 to $9.
On the one hand, being hesitant about the company's near-term future isn't a radical position. Tellurian won't have its Driftwood LNG export terminal slinging product across the globe until at least 2023. On the other hand, the facility is expected to generate $2 billion in annual cash flow once operating at full tilt, and has committed partners lined up today.
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