STO has followed a similar path to WDS through 2026, but with much less gusto, only gaining 32% year to date. The main issue has been the stock struggling to fully recover from an Abu Dhabi-led consortium walking away from a takeover deal last September after months of negotiations, sending the stock down more than 10% in one session. We like the risk/reward towards STO expecting the stock to punch to multi-year highs through 2026.
- We can see STO testing $8.85 in the coming year, which suggests energy prices will be higher for longer.
MM is cautiously bullish towards STO around $8.00
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