BPT – Macquarie rates the stock as Neutral

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Production and sales volumes metrics contained within Beach Energy’s 2Q report were a 4% beat versus Macquarie’s forecasts.

Nonetheless, even after raising its long-term oil price forecast, the broker maintains its Neutral rating and $1.40 target price, due to an offset of increased decommissioning provisions.

The analyst cautions any share price outperformance will likely be capped by the possibility of a Seven Group ((SVW)) sell down of its holding.

Sector: Energy.


Target price is $1.40.Current Price is $1.31. Difference: $0.09 – (brackets indicate current price is over target). If BPT meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).




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