"While our midcycle Brent crude price forecast is unchanged at USD 60 per barrel (2021 real), our forecast average for the four years to calendar 2021 is increased by 10% to USD 70.80 per barrel"
Beach quarterly is out and it shows the June quarter oil price received by BPT was AU$103 so the Morningstar forecast is effectively a forecast downgrade to the comparable Australian crude POO that Santos is currently receiving for its local product and yet this analyst is upgrading their target price to $6.50 based on forecast lower US POO.
"Average realised oil price of $103.2/bbl was 11% ahead of the March quarter, supporting a
20% increase in sales revenue to $471 million."
STO Price at posting:
$6.24 Sentiment: Buy Disclosure: Held
(20min delay)
