Ahead of the first half result on February 24 the company has disclosed Pro-forma financials. These are in line with UBS estimates, with aggregated revenue of $10.5bn.
The broker believes the disclosure should provide the market with greater confidence regarding a FY20 earnings forecasts. Buy rating maintained. Target rises to $17.60 from $17.50.
Sector: Energy.
Target price is $17.60.Current Price is $15.28. Difference: $2.32 – (brackets indicate current price is over target). If WOR meets the UBS target it will return approximately 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
