Investment banks mostly retain a bullish outlook for Santos. Recovering oil prices and greater confidence in rising production from the Gladstone LNG project, along with PNG expansion likely to underpin the share price.
Santos has lowered costs considerably and their balance sheet has improved, with gearing forecast to hit 20%. Higher oil prices may see dividends reinstated earlier than forecast.
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Technically, the stock has broken out from the last lower high formation near the $3.90 level, our Algo Engine will generate a buy signal in the coming months, (following a price retracement) and we’ll be sure to highlight it on the blog, when it occurs.
