stock price target $1.97, page-235

BPT is one of Bell Potter's picks for FY2022. Buy, target 1.73.

Their reasoning.
BPT is increasingly diversified acrossasset and energy commodity, providingleverage to tightening east coastgas markets and to internationallytraded LNG and oil. The recent resetof expectations at its Western Flankoperations was a material hit to value.However, BPT continues to trade onlower resource, reserve, productionand earnings multiples compared withmost peers. This discount is despiteBPT having a strong FY22-23 earningsgrowth outlook, low levels of balancesheet leverage and significantlymore project diversification than itspeers. BPT is also at the forefront of participating in carbon capture and storage technology.

Need to take this recommendation with a bit of salt as many of their FY21 predictions were failures. But I think on many counts this sums up a lot of the discussion in this forum, so plan to add more and hold. The divergence between the share price and the commodity price is too glaring to ignore and KS obviously smells an opportunity.