The broker notes APLNG is on schedule for first LNG in the middle of the year. Standard & Poor’s has also updated on the company’s credit rating, relieving fears it could be downgraded.
JP Morgan notes the decline in December quarter production and volatility in Queensland energy markets but remains optimistic an earnings recovery is in train. Overweight rating and $14.50 target retained.
Target price is $14.50.Current Price is $10.68. Difference: $3.82 – (brackets indicate current price is over target). If ORG meets the JP Morgan target it will return approximately 26% (excluding dividends, fees and charges – negative figures indicate an expected loss).