2223 GMT - Cooper Energy's share price has fallen by roughly 25% since the start of July, and Euroz Hartleys identifies three issues that investors likely want addressed. Analyst Declan Bonnick says Cooper needs to raise its production outlook for FY 2025. "The potential for a positive increase to guidance around mid-fiscal year would be viewed favorably and could drive buying from the market," Euroz Hartleys says. Reducing net debt that stood at A$279.4 million at the end of 1Q would likely get a positive response. As would certainty on Cooper's East Coast Supply Project, Euroz Hartleys says. "A Mitsui exit and entry of a new motivated JV partner to fund 50% of the preferred 3-well project is important," the bank says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 04, 2024 17:23 ET (22:23 GMT)
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