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STO - UBS rates the stock as Neutral
BY BROKER NEWS - 06/03/2018 | VIEW MORE BROKER UPDATES

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STO - SANTOS LIMITED


ExxonMobil, operator of the PNG LNG project, has stated that it may take eight weeks to repair and restore production from upstream operations following the earthquake.

UBS anticipates a slow ramp up in oil output as individual field wells are assessed and brought back on line. As further after-shocks continue, the broker envisages downside risk for the start up of PNG LNG.

Santos has a 13.5% stake in the project and this is one of the company's key long-life gas assets. The impact, UBS calculates, is a -2% reduction in the company's total production and a -9% decline in 2018 earnings per share. UBS reduces valuation slightly. Target is $5.20. Neutral.

Sector: Energy.

Target price is $5.20.Current Price is $4.89. Difference: $0.31 - (brackets indicate current price is over target). If STO meets the UBS target it will return approximately 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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