Australia's Woodside rises as Morningstar sees 25% production growth by 2028
BUZZ-Australia's Woodside rises as Morningstar sees 25% production growth by 2028 Updates
** Australia's Woodside Energy WDS.AX rise as much as 1.4% to A$33.350, hitting their highest level since May 1
** Morningstar maintains a fair value estimate of A$43.80/share on WDS, saying the market is overly bearish with its stock trading around A$33
** Morningstar lifts its 2026 underlying EPS forecast marginally to US$1.82/share after second-quarter pricing exceeded expectations
** On Wednesday, WDS reported 28% rise in second-quarter revenue and narrowed its annual production forecast, while quarterly production fell 18% to 41.3 MMboe
** Brokerage raises its FY26 production forecast to 186 mmboe from 182 mmboe
** Expects oil demand to remain resilient, supported by heavy transport and petrochemical sectors, while economic growth in emerging Asian markets underpins LNG demand
** Forecasts Woodside's total production to rise about 25% by 2028 to roughly 230 mmboe annually
** WDS shares up over 40%, YTD
(Reporting by Rajasik Mukherjee in Bengaluru)
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