STX – Credit Suisse rates the stock as Outperform

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Credit Suisse observes, unlike sector peers which have sustained lower prices and strained balance sheets, Strike Energy has avoided adverse impacts from the pandemic. Growth remains on track with the stock up 50% since pre-pandemic levels in January.

Credit Suisse increases the target to $0.31 for $0.27 on the back of some exploration upside. The main issue is whether the stock is now pricing in too much upside too early, but the broker does not believe this is a risk at this stage. Outperform retained.

Sector: Energy.

Target price is $0.31.Current Price is $0.26. Difference: $0.05 – (brackets indicate current price is over target). If STX meets the Credit Suisse target it will return approximately 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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