0010 GMT - Beach Energy loses a bull in UBS, partly due to lower natural gas prices in the near term. Analyst Tom Allen says Beach would benefit if Australian gas prices rise. But UBS is alert to media reports that LNG import terminals are delayed. Also, the Australian Energy Market Operator thinks domestic gas demand may not be that strong over the next 2-3 years. UBS cuts its forecast for natural-gas prices in Australia's eastern states by 5%-6%. "We shift Beach to least preferred in our Australian Energy sector coverage," says UBS. It downgrades the stock to neutral, from buy. Santos is its top pick, followed by Woodside Energy.(david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 10, 2025 20:10 ET (00:10 GMT)
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