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Woodside Energy Group (WDS) $31.75

MM has discussed WDS a couple of times over the last 48-hours and our view proved on point yesterday with the newly structured petroleum business rallying +5.2% to be the best performer in the ASX200:

  • The removal of the 38 million shares which overhung the market post the BHP Group (BHP) merger should allow this quality company to commence trading in line with its sector peers.
  • Santos (STO) for example is trading within a few cents of its 2022 high hence in line with previous comments we see at least 10% upside for WDS assuming oil prices remain firm.
WDS
MM is long and bullish WDS
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Woodside Energy Group (WDS) v Santos (STO)
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