** Shares of oil and gas explorer Beach Energy extend losses to third straight session; fall as much as 2.5% to A$1.570
** Stock fell 15% on Monday after co flagged a cost blowout for its Waitsia Stage 2 gas project, with first production expected in early 2025 instead of mid-2024
** UBS cuts PT to A$1.85 from A$1.95, maintains "buy" rating
** Brokerage says uncertainty on remaining scope of rectification works of the project is a key concern
** Jarden analysts lower PT to A$1.70 from A$1.90
** Macquarie analysts also lower PT by 5% to A$1.95, reflecting the delays and additional capex
** Macquarie retains "outperform" rating, but says it will be difficult for the stock to perform until Waitsia is on-stream
** As of last close, stock up 0.6% this year
(Reporting by Himanshi Akhand in Bengaluru)
((Himanshi.Akhand@thomsonreuters.com;))
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