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Santos Ltd (STO) $7.32

Macquarie believes that STO has less exposure than WDS to potential moves from Treasurer Chalmers but both continue to track the energy complex although neither is making any headway in either direction year to date. As we’ve touched on a few times today the current market is seeing outperformance in the quality stocks, WDS has rallied nicely from its 2021 lows while STO is basically unchanged, a vote of confidence in our decision to prefer WDS.

  • We see no reason to chase STO as it continues to rotate around $7.
MM has migrated to neutral towards STO from neutral/bearish
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Santos Ltd (STO)
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