Pipeline operator Jemena's 25-year deal with Senex validates Macquarie's view that the energy company's Atlas gas project is as good as originally thought and removes a significant A$140 million ($104 million) of upfront capital spending. With Jemena backing and accelerating the project, the investment bank sees further near-term catalysts to unlock value in Senex shares, so its stock target rises 10% to A$0.55. They're up 2.4% this morning at A$0.435 to put June's gain at 6.2%.
SXY Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
