** BTIG downgrades U.S.-based LNG company New Fortress Energy NFE.O to "neutral" from "buy", maintains price target of $8
** NFE shares down 5.7% in premarket trading
** Brokerage expects the balance sheet to be an overhang on the stock
** BTIG says maintenance in Puerto Rico and Jamaica was a drag on Q1 terminal volumes (down ~25% sequentially) and, with Jamaica sold in May, it expects Q2 volumes to be messy
** Brokerage expects NFE to look to monetize other assets, including its Pacific terminals, Klondike, which includes developable land for data centers, or owned natural gas turbines
** 2 of 6 brokerages rate the stock "buy" or higher, 4 "hold"; median PT is $8 - data compiled by LSEG
** As of last close, stock down 84.9% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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