Karoon Gets New Bull as Brent Crude Holds Above $100/Bbl
Dow Jones
2 hours ago
2309 GMT - Karoon Energy gets a new bull in Morgan Stanley as buoyant energy markets due to Middle East tensions support earnings across the energy sector. High shipping and insurance costs are keeping Brent crude--the global oil-price benchmark--above US$100 per barrel. This is extending EPS and free cash flow tailwinds for Australian oil and gas producers into 2027, MS says. Karoon rises 5.5%, to A$1.63 Wednesday, representing a three-week high. "The stock has underperformed recently, and we view the current share price as an attractive entry point," MS says, upgrading Karoon to "overweight," from "equal-weight."
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.