Amplitude Energy Limited's stock soared 5.35% during Monday's intraday trading session, showing strong investor interest in the energy company.

The price movement follows analyst commentary from Morgans, which maintains a buy call on Amplitude Energy despite recent challenges. The firm's analyst Adrian Prendergast noted that while the natural-gas discovery by the Isabella-1 well couldn't be developed commercially, Amplitude's balance sheet and A$100 million of Ebitdax in the first half provide the company with time to execute its strategy.

Morgans retains its positive outlook with a price target of A$3.00 per share, representing significant upside from the stock's recent closing price of approximately A$1.59 per share. The analyst firm described Amplitude's next well as "effectively a must-win for the growth thesis," indicating that future drilling success remains critical for the company's valuation expansion.