BPT rallied +6.9% yesterday making it the best-performing stock on the main board as it played catch up to the recently strong Energy Sector. If we simply cast our eyes back to the start of 2023 BPT is down -4.4% while Woodside (WDS) is up +6.4% before we take into account the latter’s larger dividend, we are bullish on the Energy Sector as a whole and as higher beta play we can see BPT squeezing back towards $2.
- We aren’t huge fans of BPT preferring sector rival WDS but we can see another test of $2 in the 2H of 2023 i.e. +25%.
MM is bullish toward BPT
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