Excelerate Energy, Inc. (EE) shares experienced a sharp pre-market decline of 5.60% on Friday, indicating significant selling pressure ahead of the regular trading session.

The drop appears to be driven by bearish analyst actions. Two major financial institutions, Wells Fargo and Deutsche Bank, both lowered their price targets for the stock. Wells Fargo reduced its target to $37 from $39, while Deutsche Bank cut its target to $42 from $44.

Such downward revisions from analysts often signal a more cautious outlook on a company's future performance and can immediately influence investor sentiment, leading to the observed pre-market sell-off.