Linc Energy cut to "neutral", target slashed to 47 cents by Credit Suisse

Stock Name: Linc Energy
Company Name: LINC ENERGY LTD

Research House: Credit Suisse

Price Call: HOLD

Target Price: 0.47

SINGAPORE (April 20): Credit Suisse has downgraded Linc Energy to "neutral" from "outperform" and slashed its sum-of-parts price target to 47 cents from $1.20.

The oil and gas exploration and production firm has found itself in a "less conducive" environment, according to Credit Suisse analysts David Hewitt and Tan Shew Heng.

The company started three well-exploration campaigns in Arckaringa, South Australia, but stopped work for the third well as results were not promising, they noted.