Morgan Stanley sees Origin Energy's investment in Octopus as favourable

Hellenic Telecommunications Organization SA

20/12/2023 02:29

** Analysts at Morgan Stanley view Origin Energy's  ORG.AX 
investment in Octopus Energy as a net positive for the energy
giant
    ** Brokerage maintains "Overweight" stock rating and price
target of A$8.88/shr
    ** ORG announced on Dec 18 that it is increasing its
interest in UK's Octopus Energy from 20% to 23%
    ** Morgan Stanley sees persistently low oil prices and
reserves and production problems as a few risks to this
investment
    ** Shares of ORG rise as much as 1.8%, hitting their highest
level since Nov. 30
    ** Three of five analysts rate stock "Buy" or higher, two
rate "Hold"; their median PT is A$9.07 - LSEG data
        ** Stock up 7.3% YTD as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))