0105 GMT - Woodside Energy has suffered from a perfect storm of external factors that have dragged on investor sentiment, says Morgans, which stays bullish on the stock. Woodside's share price is down around 19% over the past 12 months. Morgans says it now trades on a materially lower multiple than rival Santos, despite having higher-margin earnings, a better-quality portfolio of projects and a stronger balance sheet. Analyst Adrian Prendergast retains an add call on Woodside, believing the market has misjudged the company's new Louisiana LNG project "which has a reasonable probability of seeing equity selldowns and solid execution under Woodside/Bechtel management." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 18, 2025 20:05 ET (01:05 GMT)
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