Street View: Santos narrows FY output view after Barossa setback; brokers trim PT

** Santos STO narrowed annual output forecast after technical issue delayed ramp-up of Barossa oil and gas project, and inclement weather hampered recovery at Cooper Basin project

** Shares fall 1.1%, in line with broader weakness in energy stocks XEJ

BROKERAGES LOWER PRICE TARGET; FOCUS REMAINS ON BAROSSA

** Analysts at Macquarie reduce PT on Australia's second largest oil and gas producer by 1.2% to A$8.15, citing slightly weaker production and minor cost review

** Brokerage flags Barossa entering production phase with first LNG expected within weeks

** UBS lowers PT to A$8.10 from A$8.20; cuts EPS expectations for 2025 by 5% due to lower production at Cooper Basin and GLNG; assumes slower ramp-up at Barossa

** Brokerage Morgans lowers PT on Santos to A$6.80 from A$7.20; sees scope for co to re-rate into Barossa execution

** Morgan Stanley flags Barossa's FPSO reached readiness for start-up on September 16, with STO expecting first LNG in Q4 2025