2356 GMT - Origin Energy gets a new bull in Macquarie as coal prices back-pedal. While forward electricity prices are still likely to be higher in FY 2026, the cost of coal is headed back toward FY 2024 levels, it says. Macquarie says market pricing points to coal costs coming back to A$125/ton, which suggests A$140 million-A$150 million of extra income. "It is also plausible to expect Origin to increase generation as the coal price falls," Macquarie says. It upgrades Origin to outperform from neutral, citing a 6% yield, a price-to-earnings multiple at the lower part of its historical range, and a brighter outlook for profits. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
September 17, 2024 19:56 ET (23:56 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。