Morgans increases its oil price forecasts across FY22-26 and lifts its long-term real price estimate to US$ 65/bbl from US$62/bbl. While there's thought to be long-term value in the sector, some caution is applied due to short-term volatility.

As Cooper Energy's main focus is on domestic gas, the broker makes minimal changes to earnings forecasts and retains its Add rating and $0.31 target price.

Sector: Energy.

Target price is $0.31.Current Price is $0.22. Difference: $0.09 - (brackets indicate current price is over target). If COE meets the Morgans target it will return approximately 29% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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