WPL – UBS rates the stock as Buy

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After developing a detailed valuation of Woodside Petroleum to incorporate the Petroleum business acquired from BHP Group ((BHP)), UBS arrives at an unchanged $29 target price.

The broker points out the portfolio mix shifts to 29% oil and condensate post merger from 19%, and now offers greater leverage to higher oil prices.

The analyst retains a Buy rating though notes Woodside Petroleum is trading at the highest implied oil price price across UBS’ coverage of the sector.

Sector: Energy.

 

Target price is $29.00.Current Price is $32.13. Difference: ($3.13) – (brackets indicate current price is over target). If WPL meets the UBS target it will return approximately -11% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

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