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COE - Morgans rates the stock as Downgrade to Hold

PUBLISHED

2021-03-29

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Morgans lowers the rating to Hold from Add and the target to $0.30 from $0.39 given short-term uncertainty around the path to reaching nameplate at Sole. The broker expects near-term underperformance while APA Group ((APA)) aims to lift production and capital works.

While taking a conservative stance, the broker remains confident in the long-term outlook and intrinsic value in the Gippsland and Otway Basin assets.

Sector: Energy.

 

Target price is $0.30.Current Price is $0.28. Difference: $0.02 - (brackets indicate current price is over target). If COE meets the Morgans target it will return approximately 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).