Beach Energy's 4Q production was a 21% beat against Morgans forecast driven by Otway gas volumes and Western Flank oil in the Cooper Basin.

A FY23 average for realised gas pricing of $8.80/GJ compared to the broker's forecast of $8.62/GJ, 

Updated guidance for Waitsia in the Perth Basin and FY24 production and earnings guidance is expected at the FY23 result on August 14.

The Add rating is maintained while the target rises to $1.75 from $1.72.

Sector: Energy.

Target price is $1.75.Current Price is $1.63. Difference: $0.12 - (brackets indicate current price is over target). If BPT meets the Morgans target it will return approximately 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena