2252 GMT - Empire Oil & Gas's (EGO.AU) shares have been swept along with falling oil prices, which creates an opportunity for investors, Morgans says. The brokerage notes Empire's operations had a strong 2Q, with natural gas sales above expectations and revenue flat despite declining Brent crude and lower Western Australia spot gas prices. With oil-linked pricing contributing less than 20% of Empire's revenue, Morgans reckons the selloff in its shares has been overdone. Along with the potential to bring in partners on assets and a debt refinancing, it prompts Morgans to maintain an add call on the stock even as its target falls to A$0.67 from A$0.84. The stock was last at A$0.375. ([email protected]; @RobbMStewart)
- Forums
- ASX - By Stock
- EGO
- Morgans cuts EGO to 67%
Morgans cuts EGO to 67%
-
- There are more pages in this discussion • 50 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EGO (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO
Charles Armstrong
CEO
SPONSORED BY The Market Online