2350 GMT - AGL Energy could raise its FY 2025 earnings guidance at its upcoming 1H result, says Macquarie, which upgrades the stock to outperform from neutral. AGL expects an underlying net profit of A$530 million-A$730 million in FY 2025, but Macquarie thinks there's scope to lift that to the upper half of the range because its power plants have operated well and gas volumes have rebounded. "Electricity prices are staying higher for longer in New South Wales, reducing the earnings pressure," Macquarie says. AGL's share price is up 1.8% today. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 28, 2025 18:50 ET (23:50 GMT)
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