Citi have upgraded Woodside (WPL) to a BUY on the back of their 80% payout ratio suggesting this could be sustainable until 2020. The price target of $40.35 represents a 16% return from the current level. Recently their significant shareholder, Shell, has come out publicly saying that WPL is significantly undervalued and they will not sell their holding in Woodside until the price improves.
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