0029 GMT - UBS thinks the market hasn't appreciated the benefit that Beach Energy will get from realizing higher prices from uncontracted natural-gas volumes in eastern Australia. When recognized, it could drive consensus expectations for Beach's cash flow materially higher, analyst Tom Allen says. UBS projects Beach achieving a free cash flow yield of 20% in FY 2026, rising to 30% in FY 2027. "A key driver of which is our view that Beach's realized gas prices can exceed consensus expectations from FY 2026 by 15-20%," UBS says. It retains a buy call on Beach. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 22, 2025 19:29 ET (00:29 GMT)
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