Strike Energy's Talon bid may accelerate Perth Basin gas asset development - Morningstar

Talon Energy

06/09/2023 20:53

** Strike Energy's  STX.AX  proposed buyout of Talon Energy
"makes sense" as it facilitates possibility for increased pace
of Perth Basin gas asset development, says Morningstar
    ** Strike Energy in August announced it would acquire Talon
 TPD.AX  
    ** Magnitude of deal is not such that Strike risks much -
brokerage
    ** Brokerage increases 2024 EBITDA forecast to A$32 mln
($20.41 mln) from A$24 mln for Strike and maintains A$0.45 fair
value estimate 
    ** All six analysts rate Strike "buy"; their median PT is
A$0.56 - LSEG Data
    ** STX up 20.6% YTD as of last close 
   


($1 = 1.5679 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))