The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0626 GMT - Chinese battery maker Contemporary Amperex Technology's revenue will likely grow 43% in 2026, Bernstein analysts write in a note. The company will be able to address margin pressure from increased metal prices given its ability to pass through costs, they add. Energy disruptions stemming from the Middle East conflict will accelerate global electrification and benefit CATL as the leading battery supplier, they say. The recent plan to acquire a 45% stake in Zhongheng Electric will likely further deepen vertical integration across the energy-storage value chain, they add. Bernstein analysts maintain an outperform rating for the stock and raised its target price to 620 yuan from 600 yuan. Shares last at 427 yuan. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
0522 GMT - The fact that negotiations between the U.S. and Iran broke down over the weekend is important, but it isn't the dominant input for markets, ING rates strategists say in a note. "Wars between regional powers are not important for global markets. What matters is the ability to get stuff done, and to get hands on stuff," they say. Last week, Iran had control of the Strait of Hormuz, while now it is under U.S. control. "While remaining a-political, that's a more market-friendly outcome, on the theory that the ultimate ambition is to re-open the Strait, fully and unrestricted," the strategists say. (emese.bartha@wsj.com)
0515 GMT - The fundamental problem for markets is not the new U.S. blockade of the Strait of Hormuz itself, but the prospect that it alone will not work to achieve its implicit goals, say Macquarie's Thierry Wizman and Gareth Berry in a note. The U.S. blockade aims to prevent maritime traffic attempting to enter and leave Iranian ports. Those goals are the opening the Strait of Hormuz to commercial traffic or forcing Iran back to the negotiating table with concessions soon, Macquarie's strategists say. "Barring success on both fronts, we are back to where we were on Friday--expecting crude oil prices to stay high," they say. (emese.bartha@wsj.com)
0336 GMT - Medco Energi Internasional is likely a tactical oil proxy in Indonesia in a higher-for-longer oil price environment, Bahana Sekuritas' Abdusshomad Cakra Buana says in a research report. The Indonesian oil and gas company looks well-positioned to capture upside from higher oil prices, with its EBITDA growing 20% in 2026 and sustained roughly 5% CAGR through 2028, the analyst estimates. Under the brokerage's base-case scenario for Brent crude to average around $85 a barrel in 2026, Medco Energi Internasional's average selling prices should increase by 26% this year, helped by factors including higher Corridor Block contribution. The brokerage initiates coverage of the stock with a buy rating and a target price of 2,200 rupiah. Shares are 0.3% lower at 1,645 rupiah. (ronnie.harui@wsj.com)
0218 GMT - The Malaysian oil and gas sector's earnings are likely to be supported by higher oil prices in the near term, RHB Research analyst Lee Yun Leon says in a report. Oil prices have surged amid the Middle East conflict. "While we expect prices to moderate over time, supply restoration is unlikely to be immediate, given restart lags and logistical constraints," the analyst says. RHB upgrades its rating on the sector to overweight from neutral, naming Dialog Group and MISC as its top picks.(amanda.lee@wsj.com)
0055 GMT - Santos is Citi's top pick in Australian energy if Mideast tensions ease soon. But the bank would switch to Woodside Energy if the conflict drags on. That's because Woodside has higher leverage to volatility through its trading and marketing business, Citi says. Woodside also has upside from its exposure to the Japan Korea Marker, a benchmark price of liquefied natural gas in Asia. Analyst Tom Wallington highlights the potential earnings boost for Woodside from a long-term gas sale and purchase contract with Perdaman, where a component of the selling price is linked to the price of urea. "Woodside's exposure provides greater optionality in a dislocated energy market particularly as it looks to sell-down equity interest in Louisiana LNG," Citi adds, referring to its U.S. LNG export development. (david.winning@wsj.com; @dwinningWSJ)
0019 GMT - Santos's 1Q performance was likely mixed, Macquarie reckons. Santos has already outlined delays at the Barossa natural-gas project offshore Australia and at its Pikka Phase 1 project in Alaska. Macquarie estimates 1Q output of 23.2 million barrels of oil equivalent. That's below consensus hopes of 24.0 million barrels. "We expect to see revenues relatively flat versus the prior quarter [4Q of 2025], with sequential step-up in each quarter through 2026 [driven by lagged oil prices and volume growth contribution through the year as Barossa and Pikka ramp]," Macquarie says. It retains an outperform call on Santos, which is its top pick among large-cap Australian energy companies.(david.winning@wsj.com; @dwinningWSJ)
2319 GMT - Canaccord Genuity thinks it's time to add exposure to uranium equities. "Uranium is a high-beta sector but, in our view, should be a beneficiary of the increased focus on energy security which is not being reflected in stocks," the broker says. Share prices currently imply an average value of US$88/pound, it says. That compares to term prices of roughly US$90-US$93/pound, and Canaccord's long-term forecast of US$110/pound. "In light of recent volatility, we highlight names with torque and positive potential catalysts," the broker says. That includes NexGen Energy, Uranium Energy, Denison Mines and Atha Energy in North America. In Australia, it highlights Paladin Energy, Deep Yellow and Bannerman Energy and, in the U.K., Yellow Cake.(rhiannon.hoyle@wsj.com; @RhiannonHoyle)
1950 GMT - Oil futures rise but settle well off earlier highs amid reports that the U.S. and Iran still aim to reach an agreement after talks broke down at the weekend. The U.S. put into effect a blockade of the Strait of Hormuz aimed at vessels arriving at or leaving Iranian ports, which could choke off the main source of Iranian revenue. Mizuho's Robert Yawger sees it as unlikely that vessels from other producing countries in the Persian Gulf will try to cross the strait amid the standoff. But "there may be a light at the end of the tunnel," he says. "For now, the ceasefire holds and the two sides are apparently still talking." WTI settles up 2.6% at $99.08 a barrel after earlier exceeding $105. Brent rises 4.4% to $99.36 a barrel. (anthony.harrup@wsj.com)
1820 GMT - GFL Environmental's acquisition of Secure Waste adds significant infrastructure assets. The agreement provides GFL with "a significant industrial and E&P waste platform," says BMO's Devin Dodge in a note. He points to the addition of Secure's network that includes 12 landfills, 55 waste treatment sites, as well as 12 recycling facilities, 98 injection wells and five transfer stations, along with three crude-oil pipelines and 13 storage terminals. "We believe SES bolsters GFL's positioning within the industrial and energy markets in Western Canada and North Dakota," Dodge says. (adriano.marchese@wsj.com)
1811 GMT - GFL Environmental's acquisition of Secure Waste Infrastructure expands the business into new areas, but may be seen as a shift away from its traditional sold-waste focus. Raymond James' Patrick Brown says the deal offers relatively little overlap between the two businesses, since Secure isn't a municipal solid waste company like GFL, and the relatively low synergy figure floated of C$25 million reflects this. Investors may view this as "story drift," Brown says. Still, he says the C$6.4-billion "deal represents a high-quality and accretive deal at what appears to be reasonable price structured in a leverage-neutral fashion." GFL Environmental sinks 8.3% to C$54.64. (adriano.marchese@wsj.com)
1620 GMT - Desjardins Group, among the most dovish forecasters regarding Canada's rate outlook, says the Bank of Canada could start tightening monetary policy earlier than anticipated due to higher crude-oil prices. Desjardins has revised its oil-price outlook, and now anticipates WTI averaging $100 a barrel through May before declining by the end of 3Q. Under this scenario, the firm says headline inflation in Canada would be pushed higher, while growth in core prices would remain contained amid excess spare capacity and a soft labor market. Desjardins' revised oil-price outlook "would tend to suggest a slightly earlier tightening in monetary policy in 2027 than previously assumed but not a material shift in the policy path at this time," the firm says, in a note co-authored by chief economist Jimmy Jean. (paul.vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
April 14, 2026 04:20 ET (08:20 GMT)
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