Australia's AGL Energy rises as Macquarie hikes PT on earnings upgrade

AGL Energy

08/05/2024 03:33

** Shares of Australia's AGL Energy  AGL.AX  rise as much as
1.5% to A$10.16, their highest since Nov.23, 2023
    ** Analysts at Macquarie raise price target on the power
retailer to A$10.3 from A$9.60
    ** AGL on Tuesday upgraded its annual earnings estimates
citing strong summer demand and improved operating performance
    ** Brokerage has neutral rating on stock
    ** Seven of 10 analysts rate the stock "buy" or higher and
three "hold"; their median PT is A$11.15 – LSEG data
    ** Stock had fallen 5.6% this year, as of last close 

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