Cooper Energy's 1H underlying earnings (EBITDAX) just beat the consensus forecast, while underlying profit of $5.4m was a significant beat against the consensus -$1m estimate, points out Morgans.

The main highlight for the analysts was progress at Orbost on debottlenecking, which should deliver hgigher production and an around $40m capex saving for parts now not required.

The Add rating is retained and the target rises to 28c from 25c.

Sector: Energy.

Target price is $0.28.Current Price is $0.14. Difference: $0.14 - (brackets indicate current price is over target). If COE meets the Morgans target it will return approximately 48% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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