Central Petroleum’s September-quarter sales volume met Morgans’ estimates. In the short-term, the analyst believes a discount on Range (the company’s largest prospect) will likely persist until demonstration of good gas flows and a funding solution is secured.
The broker lowers its target price to $0.12 from $0.13 and maintains its Hold rating.
Sector: Energy.
Target price is $0.12.Current Price is $0.13. Difference: ($0.01) – (brackets indicate current price is over target). If CTP meets the Morgans target it will return approximately -8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
