Beach Energy's Q2 report surprised because of its gas portfolio with oil production dropping -3% over the first six months. A higher price meant sales grew higher than forecast.

Morgans has retained its Add rating with a slightly higher valuation. Price target has gained 1c to $1.72.

The broker sees value in the stock at the current share price and suggests increased investor confidence in the energy sector outlook might do the trick.

Also, Beach Energy is scheduled for interim results on February 14 and Morgans speculates the event might include an upgrade to guidance.

Sector: Energy.

Target price is $1.72.Current Price is $1.43. Difference: $0.29 - (brackets indicate current price is over target). If BPT meets the Morgans target it will return approximately 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena