SEA – Morgans rates as Add

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Sundance reported solid production and cash flow in the June Q, beating guidance. Exploration & production is continuing to ramp up across existing and newly acquired sites, the broker notes.

Drilling results have been encouraging and the broker retains Add and a 21c target.

Sector: Energy.

Target price is $0.21.Current Price is $0.07. Difference: $0.14 – (brackets indicate current price is over target). If SEA meets the Morgans target it will return approximately 67% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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