Cooper Energy's 1H results were mostly in line with Morgans estimates with earnings (EBITDAX) and operating cash flow in line while profit missed on an increased D&A charge.

The broker points out an uneven 1H performance by Orbost has resulted in lower FY23 guidance. Production guidance was lowered to 3.55-3.7mmboe from 3.7- 4.0mmboe, while EBITDAX guidance is now $115-$133m, down from $120-$150m.

The stock is oversold, according to the broker. The Add rating is retained and the target eases to 26c from 27c.

Sector: Energy.

Target price is $0.26.Current Price is $0.17. Difference: $0.10 - (brackets indicate current price is over target). If COE meets the Morgans target it will return approximately 37% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena