** Shares of Viva Energy VEA.AX rise 2.5% to A$1.5575
** Morgan Stanley anticipates adverse reaction to VEA's quarterly update, highlighting declining sales and margins, but suggests these are partly offset by progress towards co's 2026 synergies
** Maintains "Equal-weight" rating at price target of A$1.99
** Points out unplanned power outage and higher energy costs affecting co's quarterly Geelong Refining Margin
** VEA is on track to deliver 1H25 EBITDA of A$270 million to A$330 million and A$80 million in synergies and cost reductions in 2H25 - brokerage
** Stock down 40.7% YTD
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
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