2 brokers have tipped this ASX energy stock to jump by more than 60%

This week, ASX energy stock Amplitude Energy Ltd (ASX: AEL) announced a major acquisition of a project from Beach Energy Ltd (ASX: BPT) causing brokers to review their expectations for the company's shares.

2 brokers have tipped this ASX energy stock to jump by more than 60%. This week, ASX energy stock Amplitude Energy Ltd (ASX: AEL) announced a major acquisition of a project from Beach Energy Ltd (ASX: BPT) causing brokers to review their expectations for the company's shares. The analyst teams at both Macquarie and Bell Potter have upgraded their price targets for the company on the back of the deal, which we'll look at shortly. First, let's have a closer look at the deal. Major gas resource purchased Amplitude announced that it would acquire 50% of the Artisan gas resource in the Offshore Otway Basin, with the project to feed into Amplitude's East Coast Supply Project (ECSP). The company will pay Beach Energy $58.3 million plus a royalty of $3.75 per gigajoule of gas produced, capped at 62 petajoules. Amplitude Managing Director Jane Nor...