Jefferies cuts Ampol price target after Q3 trading update
BUZZ- Jefferies cuts Ampol price target after Q3 trading update ** Jefferies cuts its price target on Ampol Limited ALD.AX to A$44.00 from A$45.50 and maintains a "hold" rating following the company's Q3 trading update
** Brokerage cuts FY26 EBIT forecasts by 6.8%, citing weaker-than-expected refining earnings and delays to key refinery projects
** Says Ampol was unable to fully benefit from stronger regional refining margins due to extended maintenance and higher crude premiums
** Says the co's FCCU unit restart has been delayed to mid-November, which will cut Q4 output of gasoline, diesel and jet fuel by 150 mln litres from the previous forecast.
** On the other hand, Jefferies says convenience retail continues to perform strongly, supported by double-digit shop sales growth and progress on synergy delivery from recent acquisitions
** YTD, stock up 31.3%, as of last close
(Reporting by Paridhi Minda in Bengaluru)
Recent news on Ampol
See all newsAustralian fuel retailer Ampol falls as Jefferies cuts price target
Jefferies cuts Ampol price target after Q3 trading update
Australia's Ampol drops to 8-week low on trimmed outlook
Ampol shares slump as maintenance work overshadows strong refining margins (updated)
Brief: Ampol Posts Q3 Lytton Refiner Margin $23.92 Per Barrel