Credit Suisse is has described the twelve months ahead as a year of delivery for Strike Energy, with Walyering cashflow, West Erregulla construction and South Erregulla appraisal all targeted.
With a number of potential catalysts ahead, Credit Suisse highlights the upcoming resource estimate for Walyering, which should confirm if the company has become more conservative. The company should be funded through to Walyering’s start, but delays could impact on liquidity headroom.
The Outperform rating is retained and the target price increases to $0.34 from $0.27.
Sector: Energy.
Target price is $0.31.Current Price is $0.30. Difference: $0.01 – (brackets indicate current price is over target). If STX meets the Credit Suisse target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
