Woodside Energy upgraded to Neutral from Sell at Citi

Citi upgraded Woodside Energy (WDS) to Neutral from Sell with a price target of A$24, up from A$22. If Louisiana liquified natural gas sell down can genuinely reach 50% in the coming months, Woodside’s investor sentiment and fundamentals will improve, the analyst tells investors in a research note. The firm says that with how far the share price has already fallen, the market has already priced in the deterioration in the company’s portfolio quality from the LLNG acquisition. As such, it no longer believes a Sell rating is the right call.