Update from Macq.. Macquarie rates SXY as Outperform (1) - The...

Update from Macq..

Macquarie rates SXY as Outperform (1) -
The company has announced financial close for both the Western Surat and Project Atlas. Now that guidance and capital expenditure have been provided, Macquarie welcomes the increased certainty around cash flow in coming years.

At Project Atlas better flow rates for wells will be the main catalyst. In the short term, however, the broker envisages less upside at Western Surat because of higher expenditure. Outperform and 55c target retained.

Target price is $0.55 Current Price is $0.38 Difference: $0.17
If SXY meets the Macquarie target it will return approximately 45% (excluding dividends, fees and charges).
Current consensus price target is $0.50, suggesting upside of 30.3% (ex-dividends)