BPT - Morgan Stanley rates the stock as Overweight
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Morgan Stanley believes there is potential for a re-rating should the company successfully extend its reserve life over time.
The broker expects Beach Energy to generate around $400m in free cash in 2019 and head towards a net cash position by 2020.
Overweight. Price target is $1.70. Industry view is In-Line.
Target price is $1.70.Current Price is $1.52. Difference: $0.18 - (brackets indicate current price is over target). If BPT meets the Morgan Stanley target it will return approximately 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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