Everyone is entitled to their own opinion on the causes for the recent price change. If those that want to believe in reading Charts - yeah, fine. If you want to believe in a Witch Doctor reading goat entrails - fine by me also.
My 10 Cents worth, is that I believe Ords may have attended the Perth Basin Site Visit, and they put out a missive to their clients on the morning of the 12th. Some snapshot points from their Advisory, are:
- Greater confidence that Waitsia execution risks have reduced.
- Plans to streamline production output to 275-300 terajoules a day (previous target 250 Tj/d).
- Likely "longer production life".
- Forecast EPS increases, over Ords previous estimates, for FY25, FY26 (13%) and FY27 (8%).
- Their dividend yield forecasts were 8% FY25 and 18% FY26, based on the share price a few days ago.
- Significant free cash flow, assuming things fall in place.
- "Buy" recommendation reiterated.
- Price Target increased from $1.65 to $1.80, with possible significant upside.
Do your own in-depth research. Don't rely on anything I write, when making your investment decisions.
We live in uncertain times, and it doesn't get much more uncertain than than investing in BPT. However, for mine, that's all part of the fun.
(20min delay)