MGX - Macquarie rates the stock as Outperform
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First half earnings were better than forecast, boosted by realised lump pricing. Earnings of $80m were 24% above Macquarie's estimates.
Macquarie notes development of Koolan Island is on track for first production in early 2019 which underpins the medium-term earnings outlook.
The broker retains an Outperform rating and $0.55 target.
Target price is $0.55.Current Price is $0.42. Difference: $0.13 - (brackets indicate current price is over target). If MGX meets the Macquarie target it will return approximately 24% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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