Woodside Shares in Sydney Likely to Underperform, RBC Says
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Woodside Petroleum Ltd., Australia’s second-biggest oil producer, is likely to be an underperformer in Sydney trading because of uncertainty that it will deliver its natural gas projects, RBC Capital Markets said.
RBC has a 12-month price target of A$40 on Woodside’s shares, with an ‘underperform’ rating, Andrew Williams, an analyst at RBC, said yesterday in a report. Perth-based Woodside rose 0.7 percent to A$35.39 at the 4:10 p.m. close in Sydney today.