Citi downgraded Beach Energy to Sell from Neutral with a price target of A$1.40, down from A$1.60. The company’s refreshed strategic review saw capex that was still higher than the firm’s cautious forecasts, largely in the Cooper Basin, but with no apparent increase in medium-term production, the analyst tells investors in a research note. think Citi adds that Beach Energy share price has more work to reflect the lower quality nature of the portfolio.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BEPTF:
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue