Morgan Stanley lowers its Brent crude oil price forecasts, raises estimates for JKM LNG and adjusts Henry Hub price forecasts.

At upcoming quarterly results for Beach Energy, the broker will be focusing on Waitsia stage 2 progress after recent delays and project cost increases.

The Equal-weight rating is maintained and the target falls to $1.45 from $1.49. Industry view: Attractive. 

Sector: Energy.

Target price is $1.45.Current Price is $1.54. Difference: ($0.09) - (brackets indicate current price is over target). If BPT meets the Morgan Stanley target it will return approximately -6% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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