0102 GMT - Amplitude Energy's share price has slumped to a level that Morgans views as unsustainable due to the company's forward earnings profile. "The combination of disappointing exploration results and softer spot gas prices has seen our valuation decline 17%, against a share price that has weakened 57% since Amplitude's February high," analyst Adrian Prendergast says. Uncertainty remains around Australia's natural-gas reservation policy. That could weigh on long-term domestic gas prices. Still, Morgans says it's "hard not to believe we are near peak negativity on the topic sentiment wise (an appealing marker for value investors)." Amplitude is down 0.8% at A$1.27. Morgans retains a buy call and A$3.00/share price target. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 30, 2026 21:02 ET (01:02 GMT)
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