SEA – Morgans rates the stock as Add

Morgans believes the investment case for Sundance Energy has gained momentum and the subsequent strength in the oil price has supported a view that the company has made a transforming acquisition at an ideal point in the cycle.

Numbers from wells developed on the recently-acquired Live Oak and Atascosa acreage have impressed the broker, along with two additional wells on the legacy acreage in McMullen County. Add rating and $0.21 target maintained.

Sector: Energy.

Target price is $0.21.Current Price is $0.10. Difference: $0.11 – (brackets indicate current price is over target). If SEA meets the Morgans target it will return approximately 52% (excluding dividends, fees and charges – negative figures indicate an expected loss).

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →