Jefferies says Ampol's Evie deal accelerates EV charging strategy; shares rise

Ampol

02/10/2026 02:12

Updates
** Shares of Ampol ALD.AX rise as much as 3.8% to A$45.14, their highest level since September 25
** Jefferies says the Australian fuel retailer's planned A$225 million ($155.90 million) acquisition of Evie Networks is strategically sound
** Adds deal gives Ampol leadership in a rapidly growing EV charging market while accelerating its energy transition strategy
** Broker says acquisition is less risky than building a public charging network from scratch and estimates it to be broadly EPS neutral by 2030, including synergies
** Jefferies retains "hold" rating at a price target of A$45
** Five of eight analysts rate the stock "buy" or higher, three "hold"; their median PT is A$44, according to data compiled by LSEG
** Stock up 36.3% YTD, as of last close

($1 = 1.4432 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))