BPT – Credit Suisse rates the stock as Outperform

First-half results were ahead of estimates on the back of higher volumes and continued improvements in costs. Credit Suisse estimates the company could raise the dividend to $0.10 a share and keep gearing below 15% over the next five years.

However, the broker suspects Beach Energy will, and should, pursue further acquisitions instead. Outperform rating maintained. Target is raised to $1.91 from $1.75.

Sector: Energy.

Target price is $1.91.Current Price is $1.78. Difference: $0.13 – (brackets indicate current price is over target). If BPT meets the Credit Suisse target it will return approximately 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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 →