Bit of an update from Macq...
Beach Gets New Bull as Shares Fall Into Value Territory -- Market Talk
Beach Energy's share-price pullback on its downgrade to 5-year free cash flow guidance makes Macquarie bullish about the stock again. Macquarie lifts Beach to outperform from neutral, with its A$1.70/share price target offering around 20% upside to Monday's close at A$1.42. Macquarie is impressed by Beach's initial deal for the North West Shelf facility to process gas from Waitsia, which will underpin a 250 terajoule/day facility at the field in Western Australia. That was "a major positive that surprised our expectations (and the WA government has since stated it will be the only field to achieve such an export exemption)," Macquarie says.
Bit of an update from Macq...Beach Gets New Bull as Shares Fall...
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Last
$1.11 |
Change
-0.025(2.21%) |
Mkt cap ! $2.520B | |||
| Open | High | Low | Value | Volume |
| $1.13 | $1.14 | $1.09 | $9.538M | 8.626M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 94545 | $1.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.11 | 199949 | 8 |
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| BPT (ASX) Chart |