Couple of updates after the qrtly...
Credit Suisse rates SXY as Outperform (1) -Senex Energy's second-quarter update was solid, observes Credit Suisse, with 16% quarter on quarter rise in Surat Basin gas production and 26% rise in revenue from gas sales led by higher volumes and better realised prices.All this has culminated into the company's first-half gas production beating Credit Suisse's forecast. The broker notes Senex has a number of catalysts over the next 24 months that could support the share price.Credit Suisse retains its Outperform rating and increases the target to $0.42 from $0.41. Target price is $0.42 Current Price is $0.37 Difference: $0.05
Macquarie rates SXY as Outperform (1) -Senex Energy's CSG production continues to ramp up gradually, the broker notes. Project Atlas is now at design capacity. The Roma North expansion is due to come on line later in 2021 while the Atlas expansion is subject to gas contracting.The broker sees production broadly tripling to FY23 and the company has indicated it remains in the market for new acreages through releases or M&A. Senex boasts strong leverage to thr re-tightening of East Coast gas markets, the broker suggests.Outperform and 45c target retained.
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