analysts comments...

Has it hit the short term upside?

1550 seems to be a strong resistence.

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Woodside was down 25¢ to $15.21 after the release of its December quarterly production volumes. CSFB has downgraded its 2003 forecast earnings expectation 1.5 per cent to $545 million due to realised commodity prices being slightly below its expectations. CSFB said there was still a downside risk to it 2003 estimates. "We base this on potentially higher tax liabilities resulting from the significant amount of overseas exploration expenditures incurred by the company throughout the year," it said. CSFB has an underperform rating on Woodside. UBS has lowered its forecast EPS by 3 per cent in 2003, by 2 per cent in 2004 and 13 per cent in 2005, after reducing its production outlook for some of Woodside's key assets. The group's valuation has been lowered 1 per cent to $13.34. UBS said the Woodside share price target of $15.50 reflected a nominal value for Woodside's extensive "scope for recovery" reserves and new potential project developments. Although UBS carries a neutral rating on the group, it remains "very positive" on Woodside's long-term growth potential, particularly in 2007.