2159 GMT - Barrenjoey trims its price target on Karoon Energy by 3.8% after assuming it will need to spend a tad more on restoring the SPS-88 well to production at its Bauna oil field in Brazil and on new drilling in the Gulf of Mexico. Analyst Dale Koenders also thinks Karoon will receive less from selling part of its equity in the Neon project in Brazil, although higher production than previously forecast cushions the impact of these new assumptions. Barrenjoey raises its FY 2025 and FY 2026 EPS forecasts by 6% and 2%, respectively. Its price target is A$2.50/share, still well above Karoon's closing price of A$1.525 on Monday.(david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 10, 2025 17:59 ET (21:59 GMT)
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