Whitehaven Coal's 2Q sales exceeded Morgans forecast by 3% and management left FY23 guidance unchanged. 

The broker also raises its FY24-25 NEWC forecasts on a tight outlook for the energy market due to a re-arranging of Russian exports.

The target rises to $11.60 from $11.20 even after Morgans applies a -5% discount for 2023 regulatory/royalty risks. It's felt NSW coal royalties will be raised in 2023.

Sector: Energy.

Target price is $11.60.Current Price is $9.48. Difference: $2.12 - (brackets indicate current price is over target). If WHC meets the Morgans target it will return approximately 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena