BUZZ-Jefferies hikes PT on AGL Energy, says H1 results sufficient to offset headwinds

Reuters
02-13
BUZZ-Jefferies hikes PT on AGL Energy, says H1 results sufficient to offset headwinds

** Jefferies hikes price target on Australia's top power producer, AGL Energy AGL.AX to A$13.32 from A$12.38, retains "Buy" rating

** AGL shares were trading 4% lower at A$11.265 apiece, after ending largely flat on Wednesday

** AGL on Wednesday reported 1H25 underlying profit of A$373 million ($234.28 million), ahead of Visible Alpha consensus

** It also said it was targeting 1.4 GW of grid-scale battery storage projects in the next year

** Jefferies says strong cost management offset lower generation and demand profile

** Says while there are headwinds in 2H25, stronger-than-expected result provides a sufficient offset

** Brokerage lifts FY25 NPAT guidance to A$674 million, a 4.6% hike

** Six of 10 analysts rate AGL "Buy" or higher, three "Hold" and one "Sell"; their median PT is A$12.29 – LSEG data

** AGL largely flat this year, including the day's move

($1 = 1.5921 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com;))

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