2332 GMT - The expansion of AGL Energy's battery portfolio has grabbed the attention of UBS, which thinks it bodes well for rival Origin Energy. Analyst Tom Allen expects batteries to drive consensus upgrades to EPS forecasts from FY 2026. This provides "a strong read-through for Origin Energy, which we believe has the strongest battery portfolio in development across the market," UBS says. Still, the battery rollout means it must invest more. AGL expects to take a final investment decision on 1.4 gigawatts of new battery capacity over the next 18 months. "Despite forecasting materially higher EPS than consensus from FY 2027 we remain neutral rated as we see the potential for higher shareholder returns moderated by the scale of AGL's long-term reinvestment challenge," UBS says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 12, 2025 18:32 ET (23:32 GMT)
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