Australia's AGL Energy drops; Barrenjoey cuts to 'underweight'

AGL Energy

31/10/2024 24:20

** Shares of Australia's AGL Energy  AGL.AX  fall as much as
6.6% to A$10.42
    ** Stock is set for weakest trading session since early Feb,
2023 and hits lowest since Aug. 6
    ** Brokerage Baarenjoey lowers PT on co to A$11.2 from
A$13.8, downgrades stock rating to "underweight" from "neutral"
    ** Reduces EPS forecasts in FY26-FY27 by 8%-13%, and by ~30%
for FY28 and beyond
    ** Stock has risen 17.6% YTD, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com))