STO 0.28% $7.03 santos limited

Macquarie

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    Earnings and target price revision  2015E NPAT rises by 11% to A$466m: Lower non-cash DD&A charges and interest costs drive the material upgrade. 2015E operating cash flow rises by 10% due to lower than anticipated cash taxes. NAV falls by 1% to A$12.75/sh, reflecting a lower carrying value for Gunnedah Basin. Price catalyst  12-month price target: A$12.00 based on a DCF methodology.  Catalyst: STO will report 2014 financial results on 20 February. Action and recommendation  Maintain an Outperform and an A$12/sh target: While the impairments are large, they are more a reflection of STO's marginal/mature oil asset base (which should surprise few) and the high price paid for Eastern Star Gas
 
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Last
$7.03
Change
-0.02(0.28%)
Mkt cap $14.68B
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$7.02 $7.04 $6.93 $35.27M 5.034M

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1 219 $7.02
 

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$7.03 134854 2
Last update - 16.10pm 18/10/2018 (20 minute delay) ?
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Last
$7.02
  Change
-0.02 ( 0.29 %)
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$7.03 $7.04   $6.93 2271585
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