Beach Energy downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs analyst Henry Meyer downgraded Beach Energy to Sell from Neutral with a price target of A$1.65, down from A$1.70. The analyst views the stock’s valuation as “relatively fully” given the uncertainty surrounding near-term earnings from Otway customer nominations during contract re-pricing arbitration, land access approvals for Enterprise connections, and contractor progress on Waitsia.