This from Morgans this morning...
Woodside
Interesting to see Woodside Energy (ASX: WDS) backflip on a seemingly positive June quarter update on Thursday. The company's shares are down -4% at noon.
Morgans analysts see "solid potential" for Woodside to deliver a positive earnings surprise at its half-year result in August.
"Woodside could use its soaring earnings from the cycle and BHP merger to flex returns," the analysts said.
The broker was keen to see updates for growth assets such as Trion in the Gulf of Mexico and how the business is performing against the backdrop of inflationary pressures.
The analysts forecast Woodside to deliver US$5.49bn in revenue in the first-half, up 119% against the prior period.
Underlying net profits are projected to jump to US$1.77bn, up an outsized 401% compared to the first-half of FY21.
Morgans is Add rated with a $36.00 target price.
Ann: 2022 Production guidance clarification, page-4
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