Australian Broker Call

Bell Potter rates A1M as Buy (1) -

Bell Potter highlights the updated mineral resource estimate from AIC Mines' Eloise and Jericho deposits showed an increase in Jericho estimates along with an upgrade to the indicated category.

The broker believes the 5Mt boost to the combined tonnage at the two deposits will allow for mill expansion and an increase in estimated copper production to 20kpta from 12kpta. The broker estimates an extra year will be added to its modelled life of mine.

Updated ore estimate is due in April. Target price lifted to 66c from 62c. Buy maintained.

Target price is $0.66 Current Price is $0.41 Difference: $0.25
If A1M meets the Bell Potter target it will return approximately 61% (excluding dividends, fees and charges).

Current consensus price target is $0.76, suggesting upside of 84.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates AEL as Add (1) -

Morgans has mark-to-market earnings forecasts for the updated oil and LNG price estimates for 2025 resulting in a small net increase in LNG earnings and a decrease in oil.

The broker highlights Trade War 2.0 "mirrors" President Trump's first term in 2018 and has eased the near-term conviction for oil prices in 2025.

No change to 28c target price and Add rating for Amplitude Energy.

Target price is $0.28 Current Price is $0.22 Difference: $0.06
If AEL meets the Morgans target it will return approximately 27% (excluding dividends, fees and charges).

Current consensus price target is $0.28, suggesting upside of 23.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates ALQ as Add (1) -

Morgans believes concerns over pricing pressures in geochemistry and possible negative impacts on the US Environment business from the Trump Administration resulting in ALS Ltd not achieving FY25 earnings expectations are overdone.

The analyst highlights volumes in geochemistry have moved up with positive forex tailwinds in 2H25 from the first half.

Any pricing pressure in geochemistry is not totally unexpected given the overcapacity in the industry, Morgans explains, and management is seeing some "green shoots".

The US business only represents around 15% of the company's Environment business or around 5% of the group revenue, the broker notes.

No change to Add rating. Target price lifts to $17.50 from $16.75.

Target price is $17.50 Current Price is $15.37 Difference: $2.13
If ALQ meets the Morgans target it will return approximately 14% (excluding dividends, fees and charges).

Current consensus price target is $16.83, suggesting upside of 8.0% (ex-dividends)

The company's fiscal year ends in March.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.9

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates BKW as Buy (1) -

Brickworks continues to face a challenging macro backdrop but Citi views the outlook as improving with rate cuts expected to underwrite an improvement in demand.

Property is expected to benefit from lower rates and higher asset values as well as higher rental income, the analyst explains. The Investment division, with earnings essentially from WH Soul Pattinson ((SOL)), is flagged as continuing to do well, given the track record.

Brickworks is trading at a discount of around -10% to the ASX Industrials and the historical average is around in-line, Citi states.

Buy rated with a $31.60 target price.

Target price is $31.60 Current Price is $23.93 Difference: $7.67
If BKW meets the Citi target it will return approximately 32% (excluding dividends, fees and charges).

Current consensus price target is $29.18, suggesting upside of 23.6% (ex-dividends)

The company's fiscal year ends in July.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.6

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates BPT as Hold (3) -

Morgans has mark-to-market earnings forecasts for the updated oil and LNG price estimates for 2025 resulting in a small net increase in LNG earnings and a decrease in oil.

The broker highlights Trade War 2.0 "mirrors" President Trump's first term in 2018 and has eased the near-term conviction for oil prices in 2025.

The target price for Beach Energy rises to $1.55 from $1.53 with no change to Hold rating.

Target price is $1.55 Current Price is $1.44 Difference: $0.115
If BPT meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges).

Current consensus price target is $1.52, suggesting upside of 4.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates BRG as Neutral (3) -

Citi highlights ongoing uncertainty around President Trump's tariffs regarding Breville Group but remains upbeat on the outlook for the company's specialty coffee bean business, Beanz.

The analyst sees the medium-term growth opportunities in China/Middle East and the investment in solutions such as Beanz appears to be "paying off".

Citi also notes the competition in the coffee segment is having less of an impact than previously anticipated.

Neutral rated. Target $38.20.

Target price is $38.20 Current Price is $32.76 Difference: $5.44
If BRG meets the Citi target it will return approximately 17% (excluding dividends, fees and charges).

Current consensus price target is $38.36, suggesting upside of 20.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.4

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Bell Potter rates CCL as Initiation of coverage with Buy (1) -

Bell Potter has initiated coverage of Cuscal with a Buy rating and target price of $3.40.

The broker notes the company has a strong track record of innovation, and its 100% acquisition of Basiq last year proves it is looking at longer-term growth solutions funded by core profits.

The broker sees potential for new sources of repeated revenue, noting 64% of FY24 revenue came from clients with over 2 years remaining on their contract. Demand for services from a company with infrastructure like Cuscal is likely to increase, the broker highlights, as the Australian payments landscape grows.

The broker is valuing the company by discounting future cash flows at the weighted average cost of capital which it estimates at 11.7%, so it omits balance sheet movements. 

Target price is $3.40 Current Price is $2.71 Difference: $0.69
If CCL meets the Bell Potter target it will return approximately 25% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates COI as Speculative Buy (1) -

Morgans has mark-to-market earnings forecasts for the updated oil and LNG price estimates for 2025 resulting in a small net increase in LNG earnings and a decrease in oil.

The broker highlights Trade War 2.0 "mirrors" President Trump's first term in 2018 and has eased the near-term conviction for oil prices in 2025.

No change to Speculative Buy rating and 23c target price for Comet Ridge.

Target price is $0.23 Current Price is $0.13 Difference: $0.1
If COI meets the Morgans target it will return approximately 77% (excluding dividends, fees and charges).

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates CWY as Upgrade to Add from Hold (1) -

Morgans upgrades Cleanaway Waste Management to Add from Hold with a higher target price of $2.95 from $2.85.

The broker believes the Contract Resources acquisition for $377m (debt funded) is attractive, even if there is a preference for management to expand further into solid waste services.

The acquisition is expected to be EPS accretive with cost synergies, and Morgans lifts FY27 net profit after growth forecast by 4%. The deal is subject to ACCC approval targeted for late 2025.

Target price is $2.95 Current Price is $2.60 Difference: $0.35
If CWY meets the Morgans target it will return approximately 13% (excluding dividends, fees and charges).

Current consensus price target is $3.13, suggesting upside of 18.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates EEG as Speculative Buy (1) -

Morgans has mark-to-market earnings forecasts for the updated oil and LNG price estimates for 2025 resulting in a small net increase in LNG earnings and a decrease in oil.

The broker highlights Trade War 2.0 "mirrors" President Trump's first term in 2018 and has eased the near-term conviction for oil prices in 2025.

No change to Speculative Buy rating and 74c target for Empire Energy.

Target price is $0.74 Current Price is $0.19 Difference: $0.55
If EEG meets the Morgans target it will return approximately 289% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates EMR as Sell (5) -

Ord Minnett notes Emerald Resources' Okvau gold mine's March quarter production is expected to be around 20koz, which is below guidance by -5k to -10koz due to the restrictions to the pit.

The company expects all-in-sustaining costs for the quarter to come in within 20% of the guidance range of US$1100–US$1200/oz.

The broker continues to view Emerald Resources as a well-managed company positioned for growth.

Sell rated with a $3.60 target price unchanged.

Target price is $3.60 Current Price is $4.00 Difference: minus $0.4 (current price is over target).
If EMR meets the Ord Minnett target it will return approximately minus 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Market Sentiment: -1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates FMG as Upgrade to Neutral from Sell (3) -

UBS believes the selloff in Fortescue shares is overdone, expecting the iron ore price will hold in the range of US$90-100/t for the next five
years, and upgrades its rating to Neutral from Sell. 

While suggesting concerns around low-grade discounts as also overdone, the broker increases its low-grade discount to -16% from -15% to acknowledge the possibility of steel curtailments. The target falls to $16.70 from $17.30.

Target price is $17.30 Current Price is $15.79 Difference: $1.51
If FMG meets the UBS target it will return approximately 10% (excluding dividends, fees and charges).

Current consensus price target is $18.16, suggesting upside of 11.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates FRW as Initiation of coverage with Accumulate (2) -

Ord Minnett has initiated coverage of Freightways Group with an Accumulate rating and target price of $10.59.

The broker notes the company's entry into Australia in 2022 through the Allied Express acquisition is leading to margin growth and positions it for expansion.

The company is believed to have an advantage of multiple brands where it is making more capex investments. The broker forecasts more margin improvement from FY26 and beyond from capex benefits.

A possible rebound of the New Zealand economy is seen as one of the key upside risks for FY26.

Target price is $10.59 Current Price is $9.83 Difference: $0.76
If FRW meets the Ord Minnett target it will return approximately 8% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.5

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates KAR as Add (1) -

Morgans has mark-to-market earnings forecasts for the updated oil and LNG price estimates for 2025 resulting in a small net increase in LNG earnings and a decrease in oil.

The broker highlights Trade War 2.0 "mirrors" President Trump's first term in 2018 and has eased the near-term conviction for oil prices in 2025.

The target price for Karoon Energy slips to $2.40 from $2.45 with no change to Add rating.

Target price is $2.40 Current Price is $1.63 Difference: $0.775
If KAR meets the Morgans target it will return approximately 48% (excluding dividends, fees and charges).

Current consensus price target is $2.22, suggesting upside of 35.4% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Shaw and Partners rates LM8 as Buy (1) -

Lunnon Metals has agreed with Gold Fields subsidiary St Ives Gold Mining to waive its existing pre-emptive rights over Lady Herial deposit which would pave the way for both parties to negotiate the treatment of the ore.

Shaw and Partners notes the two parties have 90 days to finalise the sale and purchase terms, with Lunnon free to negotiate with other parties if the deal fails.

The broker expects a successful negotiation to lead to mining start before the end of the September quarter, which is its base case. 

Target price of 60c and Buy rating are retained.

Target price is $0.60 Current Price is $0.23 Difference: $0.37
If LM8 meets the Shaw and Partners target it will return approximately 161% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates MX1 as Speculative Buy (1) -

Micro-X has shifted its focus on medical imaging for its cold-cathode x-ray technology as well as completing a $4m capital raising at 7c per share, Morgans explains.

The broker notes 1H25 results with revenue of $12.3m and an earnings (EBITDA) loss of -$4.7m and a net loss of -$8.6m.

Morgans has increased the expected EPS loss post the updates with FY25 EPS estimates down -14.1% and FY26 falling -12.8%.

Speculative Buy rating unchanged with a 17c target price, down from 19c.

Target price is $0.17 Current Price is $0.06 Difference: $0.11
If MX1 meets the Morgans target it will return approximately 183% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates NAB as Sell (5) -

Citi notes National Australia Bank remains at a solid valuation premium to ANZ Bank ((ANZ)) and Westpac ((WBC)) but this will likely unwind due to competitive pressure in the slowing business banking environment, management uncertainty and faster decline in credit quality.

The broker remains cautious of the stock despite the recent sell-off. Sell rating and $26.50 target price.

Target price is $26.50 Current Price is $33.18 Difference: minus $6.68 (current price is over target).
If NAB meets the Citi target it will return approximately minus 20% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $32.65, suggesting downside of -3.7% (ex-dividends)

The company's fiscal year ends in September.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: -0.7

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates OMA as Speculative Buy (1) -

Morgans has mark-to-market earnings forecasts for the updated oil and LNG price estimates for 2025 resulting in a small net increase in LNG earnings and a decrease in oil.

The broker highlights Trade War 2.0 "mirrors" President Trump's first term in 2018 and has eased the near-term conviction for oil prices in 2025.

No change to Speculative Buy rating and 64c target price.

Target price is $0.64 Current Price is $0.44 Difference: $0.2
If OMA meets the Morgans target it will return approximately 45% (excluding dividends, fees and charges).

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates PDN as Buy (1) -

Citi notes all operations at Paladin Energy's Langer Heinrich Mine in Namibia have been temporarily suspended due to flash flooding that blocked site access and is described as a 1-in-50 year event.

The event is unlikely to alter the broker's valuation of the company but it will challenge the earnings recovery momentum in the stock that the market had been looking for, the broker explains.

Citi is awaiting further news before adjusting earnings forecasts. Target price $11 with a Buy rating.

Target price is $11.00 Current Price is $6.56 Difference: $4.44
If PDN meets the Citi target it will return approximately 68% (excluding dividends, fees and charges).

Current consensus price target is $10.84, suggesting upside of 65.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.9

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgan Stanley rates PDN as Overweight (1) -

Morgan Stanley notes Paladin Energy has been impacted by unseasonably heavy rains in Namibia and all operations have been suspended temporarily as the mine access has been affected.

The company will assess the full impact of the wet weather and the stoppage in production once the conditions have settled.

Morgan Stanley retains an Overweight and $10 target price. Industry view is Attractive.

Target price is $10.00 Current Price is $6.56 Difference: $3.44
If PDN meets the Morgan Stanley target it will return approximately 52% (excluding dividends, fees and charges).

Current consensus price target is $10.84, suggesting upside of 65.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.9

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgan Stanley rates PMV as Overweight (1) -

On first take, Morgan Stanley highlights 1H25 revenue and earnings before interest and tax were in line with pre-guidance for Premier Investments.

The analyst notes Peter Alexander came in above expectations and the rollout in the UK is on track. Smiggle's performance was below expectations as timing around the turnaround remains in question.

Management's trading update was as expected and is viewed by the broker as relatively positive given the challenges for the consumer sector.

Overweight rating unchanged. Target $32. Industry View: In-Line.

Target price is $32.00 Current Price is $21.85 Difference: $10.15
If PMV meets the Morgan Stanley target it will return approximately 46% (excluding dividends, fees and charges).

Current consensus price target is $27.20, suggesting upside of 28.2% (ex-dividends)

The company's fiscal year ends in July.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.4

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates PMV as Downgrade to Accumulate from Buy (2) -

Ord Minnett notes Premier Investments' 1H25 net profit missed expectations by -7% due to one-off costs, but retail EBIT was in line.

The Smiggle brand did well in Australia/NZ but disappointed internationally. The broker is optimistic about the future after the company said it will rebuild the management team and expand the product pipeline.

The company also indicated openness to M&A given a solid $268m cash position. Outlook for the company's UK operations, however, remains uncertain, the broker highlights.

The broker cut the FY26 EPS estimate by -3% on higher costs and weaker sales update for 2H. Target price trimmed to $23.60 from $26.15, and rating downgraded to Accumulate from Buy.

Target price is $23.60 Current Price is $21.85 Difference: $1.75
If PMV meets the Ord Minnett target it will return approximately 8% (excluding dividends, fees and charges).

Current consensus price target is $27.20, suggesting upside of 28.2% (ex-dividends)

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.4

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates S32 as Downgrade to Neutral from Buy (3) -

UBS lowers its target for South32 to $3.70 from $4.00 and downgrades to Neutral from Buy, suggesting the risk/reward balance is now fairly even as the company pivots from restructuring and cash returns toward organic growth.

The broker notes South32's growth pipeline, particularly Hermosa, is long-dated and offset by depletion at Cannington.

UBS also highlights forecast cash returns over the next two years are not compelling.

Target price is $3.70 Current Price is $3.53 Difference: $0.17
If S32 meets the UBS target it will return approximately 5% (excluding dividends, fees and charges).

Current consensus price target is $4.13, suggesting upside of 18.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates SFR as Hold (3) -

Morgans continues to view longer term copper prices will be underpinned by strong demand and more challenging sources of supply from slipping ore grades, mine depletion, and the higher cost of investment to bring new projects on stream.

Sandfire Resources is rated Hold with a higher target price of $11.80 from $11 and the broker believes any weakness in the share price is an opportunity to "accumulate" the stock at lower levels.

The analyst highlights Sandfire trades at a premium on the ASX due to the lack of other high-quality copper pure play companies.

Concerns over tariffs on copper imported to the US has resulted in rising copper futures on Comex trading at a significant premium to the LME copper futures, Morgans explains.

Target price is $11.80 Current Price is $11.48 Difference: $0.32
If SFR meets the Morgans target it will return approximately 3% (excluding dividends, fees and charges).

Current consensus price target is $10.59, suggesting downside of -9.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: -0.1

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates STO as Hold (3) -

Morgans has mark-to-market earnings forecasts for the updated oil and LNG price estimates for 2025 resulting in a small net increase in LNG earnings and a decrease in oil.

The broker highlights Trade War 2.0 "mirrors" President Trump's first term in 2018 and has eased the near-term conviction for oil prices in 2025.

The target price for Santos slips to $6.90 from $7.10 with no change to Hold rating.

Target price is $6.90 Current Price is $6.50 Difference: $0.4
If STO meets the Morgans target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $7.88, suggesting upside of 21.9% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates TCG as Initiation of coverage with Speculative Buy (1) -

Morgans has initiated coverage of Turaco Gold with Speculative Buy rating and target price of $1.05.

The broker's valuation is based on the production plan for the Afema Gold Project where the company delivered a 2.52Moz mineral resource estimate within 12 months of acquisition.

The broker has modelled an initial seven-year open pit mine life, projecting 180kzopa at a cost of $1,681/oz, with the first production starting in 2028.

The broker estimates an annual EBITDA of $260m at a margin of 49%. Upcoming catalyst is an update on the mineral resource estimate where the broker expects an upgrade.

Target price is $1.05 Current Price is $0.36 Difference: $0.69
If TCG meets the Morgans target it will return approximately 192% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates TCL as Hold (3) -

Following a call with Transurban Group's CEO, Morgans has maintained its Hold rating and cut its target price marginally to $12.64 from $12.65.

The broker states a share buyback was among the topics discussed, given the price weakness. The CEO's view was the company may end up doing both a share buyback and new project investments due to returns above the cost of capital from investments. 

The broker notes the 1H25 cost management may not replicate in the 2H due to cost seasonality, and the company is targeting FY25 cost growth below CPI.

Target price is $12.64 Current Price is $13.29 Difference: minus $0.65 (current price is over target).
If TCL meets the Morgans target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $13.44, suggesting upside of 3.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.3

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates WDS as Add (1) -

Morgans has mark-to-market earnings forecasts for the updated oil and LNG price estimates for 2025 resulting in a small net increase in LNG earnings and a decrease in oil.

The broker highlights Trade War 2.0 "mirrors" President Trump's first term in 2018 and has eased the near-term conviction for oil prices in 2025.

The target price for Woodside Energy slips to $30.10 from $30.25 with no change to Add rating.

Target price is $30.10 Current Price is $22.91 Difference: $7.19
If WDS meets the Morgans target it will return approximately 31% (excluding dividends, fees and charges).

Current consensus price target is $26.70, suggesting upside of 15.8% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.2

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources