“Santos (STO) has received a final, non-binding A$8.89/share takeover bid from an Abu Dhabi National Oil Company (ADNOC) led consortium, representing a 28% premium to its last close,” Raymond said.
“While the offer reflects strategic interest in LNG assets, significant regulatory and execution risks remain—particularly Foreign Investment Review Board approval for Middle Eastern state ownership of critical infrastructure.
“This bid has sparked a rally across the energy sector, with WDS stock price also benefiting from the positive momentum.
“WDS continues to execute strongly on Scarborough and Louisiana LNG projects without takeover uncertainty.
“We view WDS as a quality holding and maintain our BUY rating with a $30.10 target price,” Raymond said.
GRAPH OF Woodside (WDS)
