BA-Merrill Lynch rates NXS as Neutral, High Risk - The broker has increased its 2009 average oil price forecast by 5% (US$61.80/bbl) and 2010 by 13% (US$85/bbl). The long term forecast rises 4% to US$80/bbl but when adjusted for the Aussie dollar forecast, falls 8% to A$94/bbl.
Tight supply and loose monetary policy provides the possibility of an oil price spike to US$100/bbl into 2011, the broker suggests.
Nexus's target decreases from 41c to 38c.
not convinced, page-3
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