Further to the bid announced by Posco International, Morgan Stanley suspects, as the Senex Energy board has not endorsed the offer, a small hike in the offer may do the trick.

The cash offer price is $4.40 a share and the broker raises the target to that level, from $3.50. Equal Weight rating retained. Industry view: Attractive.

Sector: Energy.

Target price is $4.40.Current Price is $4.45. Difference: ($0.05) - (brackets indicate current price is over target). If SXY meets the Morgan Stanley target it will return approximately -1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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