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 Viva Energy, the broker forecasts 1H Geelong Refining Margin of circa US$11.50/bbl, (consensus US$11.10/bbl). 

The Equal-weight rating is maintained, and the target falls to $3.64 from $3.75. Industry view: Attractive. 

Sector: Energy.

Target price is $3.64.Current Price is $3.13. Difference: $0.51 - (brackets indicate current price is over target). If VEA meets the Morgan Stanley target it will return approximately 14% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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