Our investment strategy for Beach Energy (ASX:BPT)
Buy BPT up to $1.80 per share.
Our price target is $2.30 and we potentially see upside to the previous high around $2.90, depending on how the company fares late in 2022 and into 2023.
Use a stop loss at $1.53.
We believe Beach Energy stock is heavily undervalued because of the 2021 revision of reserves in the so-called ‘Western Flank’ of the Cooper Basin. Currently, the stock is trading at an EV/EBIT...