AGL Energy on pace for best week in 8 months, but analysts cautious

AGL Energy

09/02/2024 03:26

(Updates shares moves, adds analyst comments)
    ** Shares of Australia's AGL Energy  AGL.AX  dip 2.3% to
A$8.595, after surging 10.3% on Thurs
    ** Despite the drop, the stock is up 5.3% this week, set for
its best week since June 2023
    ** The surge on Thurs was due to the energy and telecom
services provider's strong results and FY24 forecast, but
analysts advise caution
    ** Macquarie raises PT to A$9.60 from A$9.30, due to the
raised forecast but flags FY24 could be peak earnings
    ** Morgan Stanley concurs, saying "H1 result was ahead of
expectations, but implies a moderating run rate into FY25"
    ** Trims PT to A$9.99 from A$11.68

 (Reporting by Echha Jain and Aaditya Govind Rao in Bengaluru)
 ((Echha.jain@thomsonreuters.com))