Australia's Woodside, Santos rise after Morgan Stanley upgrades stock ratings

Santos

06/07/2026 01:53

** Shares of Woodside Energy WDS.AX and Santos STO.AX  rise as much as 1.3% and 2.1%, respectively, after Morgan Stanley upgraded stock ratings  
** Shares of  Woodside rise 1.3% to A$28.22, their biggest single-day gain since June 30, after the brokerage lifts stock to "equal-weight" from "underweight", projects second-quarter production of 42.7MMboe and revenue of $3.8 billion, both above the market consensus
** Meanwhile, Morgan Stanley moved Santos to "overweight" from "equal-weight" and raised price target to A$7.67 from A$7.50, sending shares up 2.1% to A$7.25, their biggest intraday pct rise since June 26
** Morgan Stanley expects Santos to report second-quarter production slightly below consensus estimate of 24.7 MMboe and revenue of $1.6 billion 
** The brokerage trims price target for Origin Energy ORG.AX to A$10.35 from A$11.00 and Karoon Energy KAR.AX to  A$1.58 from A$1.91
** Energy sub-index .AXEJ rises as much as 1.1%, outperforming a 0.1% rise in ASX 200 benchmark .AXJO




 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.kumar@thomsonreuters.com;))