NextDecade (NEXT) Soars 11.8% on Analyst's "Buy" Reco

We recently published These 10 Stocks are Stealing the Spotlight. NextDecade Corp. (NASDAQ:NEXT) is one of the stocks that soared higher on Tuesday.

NextDecade rallied by 11.79 percent on Tuesday to close at $9.20 apiece as investor sentiment was bolstered by an investment firm’s “buy” recommendation on its stock.

In a market note on Tuesday, TD Cowen raised its recommendation for NextDecade Corp.’s (NASDAQ:NEXT) stock to “buy” from “hold” previously, while increasing its price target to $11 from $9. The new price target represents a 19.56 percent upside from its latest closing price.

According to TD Cowen, the upgrade was based on optimism for the development of trains 4 and 5 at its Rio Grande LNG facility, which could bolster growth prospects faster than previously expected.

However, TD Cowen noted that NextDecade Corp. (NASDAQ:NEXT) should provide additional financial transparency in relation to its final investment decision, which should boost investor confidence in its execution capabilities.

NextDecade Corp. (NASDAQ:NEXT) is an LNG developer focusing on exporting LNG projects.

While we acknowledge the potential of NEXT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.