Citi initiates coverage on APA Group with buy rating, flags AI as possible growth area
03/06/2026 19:40
BUZZ-Citi initiates coverage on APA Group with buy rating, flags AI as possible growth area ** Citi initiates coverage on APA Group APA.AX, Australia's largest gas pipeline and energy infrastructure owner
** Brokerage rates stock "buy" with target price of A$11.10 per share
** Citi says it likes co's secure, high-margin, CPI-linked income and strong customer base
** Says surging demand for data centres is also possible growth avenue for APA as it sees "scope for significant near and medium term growth here"** Brokerage sees scope for expansion for co, given how gas is expected to play pivotal role in Australia's energy transition
** Australia is one of the world's largest LNG exporters and ships more gas overseas than it consumes domestically
** YTD, APA up 13%
(Reporting by Rajasik Mukherjee in Bengaluru)
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