Karoon Energy gets a new bull in Morgans, which asserts that its share price shouldn't be trading around a 12-month low now that it has successfully restarted a key oil-production well in Brazil. Karoon said the SPS-92 well--the largest at its Bauna oil field by output--is back online after a new electrical submersible pump was installed. Morgans upgrades Karoon to buy from hold. "With the path to peace in the Middle East also proving to be more difficult than the market hopes, we could also see some better near-term support for oil prices," analyst Adrian Prendergast says. Karoon is up 5.1% at A$1.445 today. (david.winning@wsj.com; @dwinningWSJ)