0305 GMT - While Woodside's 40% sell-down in the Louisiana LNG infrastructure is broadly neutral for its net present value, it offers timely de-gearing of the company's balance sheet against a weakening macroeconomic backdrop, Citi analyst Paul McTaggart says in a note. "It helps reduce funding pressure for WDS's other growth projects, though it also introduces longer-term exposure to potential cost overruns," says McTaggart. He reckons it might not be the only deal Woodside signs for the megaproject. "The transaction also increases the likelihood of a HoldCo sell-down, and with the Bechtel drop-dead date looming in May, we expect further announcements in the near term," he says. Citi has a neutral rating on Woodside and lowers its target price to A$20.50 from A$24.00 previously. Woodside is up 2.0% at A$19.64/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 07, 2025 23:05 ET (03:05 GMT)
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