Woodside Energy downgraded to Underweight at JPMorgan after group rally

As previously reported, JPMorgan analyst Mark Busuttil downgraded Woodside Energy to Underweight from Neutral with a price target of A$36.30, up from A$35.50. “Limited good news” is expected at upcoming results season for Australia’s energy stocks as all have released pricing and revenue information, so the focus will likely be on the outlook and development projects, says the analyst, who says that with stocks in the group rallying strongly in recent weeks that “the sector looks full.”