Morgan Stanley updates energy price forecasts for its research coverage of Australian Energy and reviews upcoming quarterly results.

For Beach Energy, the broker is looking for an update on progress at Waitsia Stage 2 after recent delays and project cost increases.

The Equal-weight rating is maintained and the target falls to $1.71 from $1.79. Industry view: Attractive. 

Sector: Energy.

Target price is $1.71.Current Price is $1.62. Difference: $0.10 - (brackets indicate current price is over target). If BPT meets the Morgan Stanley target it will return approximately 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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