OSH – Citi rates the stock as Neutral

By Broker News | More Articles by Broker News

The PNG petroleum minister has stated the government intends to honour the existing Papua LNG gas agreement.

This follows a letter provided by operator Total which agrees to meet the government on a number of conditions such as a national content plan and open access of the Papua LNG pipeline for third-party gas.

In the short term Citi believes Oil Search can outperform on de-risking of LNG expansion but remains cautious about LNG exposure. Neutral rating and $6.97 target maintained.

Sector: Energy.

Target price is $6.97.Current Price is $6.68. Difference: $0.29 – (brackets indicate current price is over target). If OSH meets the Citi target it will return approximately 4% (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 →