0425 GMT [Dow Jones] Macquarie still likes Origin Energy (ORG.AU) after visiting its
Darling Downs power station and coal seam gas processing facility at Talinga in
Queensland. Maintains Outperform recommendation with A$18.20 price target, vs latest down
2.9% at A$14.22. Says that, as expected, there was no news about progress on Gladstone
LNG joint venture with ConocoPhillips in relation to potential sales contracts, plant
site selection. Says news on such developments is main share price catalyst. "The
rhetoric was predominantly around Origin's domestic utility business and the
position of strength [in] which Origin finds itself in this market," Macquarie says.
"We remain happy with our Outperform recommendation as value continues to be present
in the current share price." (RRK)
Today macquarie say $4.01
ORG Price at posting:
$3.78 Sentiment: Hold Disclosure: Held
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