2218 GMT - Investors in Beach Energy can afford to sit on their hands while it navigates a tricky period of execution and likely volatility in the oil price, Citi says. Beach needs to reshape its portfolio of energy assets with acquisitions, but that's no easy task. "If oil falls in 2025 in the way we expect, then Beach Energy, which is unhedged, will have a smaller balance sheet to transact on their acquisitions," analyst James Byrne says. Citi thinks Beach will pursue a large deal to rely less on assets that the bank considers low quality. "Investors can therefore wait for execution first while getting a free look on the commodity price," the bank adds. It has a sell call on the stock.(david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 20, 2024 18:18 ET (22:18 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。