cs cuts forecast

Still targeting $3 however

MARKET TALK: CS Cuts WPL, HDR Earnings Forecasts 05/05/06 10:57:00

0057 GMT [Dow Jones] Credit Suisse cuts Woodside (WPL.AU), Hardman (HDR.AU)
2006 earnings forecasts after poor start at Chinguetti, producing 50,000 barrels
a day rather than expected 70,000. "To underperform so early after a field
startup and by so big a margin, we believe is indicative of something missed in
the development planning or implementation." Cuts WPL 2006 earnings forecast 8%
and HDR 31%. Keeps Neutral WPL rating, targets A$49 vs latest flat at A$47.05.
Keeps Hardman Outperform rating, targets A$3 vs latest up 2 cents at A$2.31.
(MCE)