Citi sell might explain dip on 16th
Not sure I ever believe their calls but ...
OSH - Macquarie rates the stock as Outperform
BY BROKER NEWS - 22/03/2018
from FN A
A site visit to PNG LNG, post earthquake, has left the broker more confident on the timeline for restart and the achievement of front-end engineering design (FEED) by year-end, and the broker believes the company will not have to raise extra capital.
Catalysts ahead include Alaska drilling results, a P'nyang resource upgrade and the PNG government's response and terms, the broker notes. Outperform and $8.10 target retained.
Sector: Energy.
Target price is $8.10.Current Price is $7.20. Difference: $0.90 - (brackets indicate current price is over target). If OSH meets the Macquarie target it will return approximately 11% (excluding dividends, fees and charges - negative figures indicate an expected loss)
Citi selll from 16/3
Oil Search plans to present its expansion concept to the PNG government in coming days. Citi believes the company is demonstrating its focus on maximising value from current assets and is one of the few that has not destroyed value through exploration.
Production assets continue to run well and the broker envisages upside from Alaska. Nevertheless, the stock appears expensive on Citi's US$55/bbl long-term oil deck. Sell rating maintained. Target is reduced to $6.58 from $6.61.
Sector: Energy.
Target price is $6.58.Current Price is $7.09. Difference: ($0.51) - (brackets indicate current price is over target). If OSH meets the Citi target it will return approximately -8% (excluding dividends, fees and charges - negative figures indicate an expected loss)
