Citi trims Australia's Origin Energy PT, keeps 'buy' after June-quarter update

Origin Energy

02/08/2026 22:35

** Citi maintains its "buy" rating for Australia's Origin Energy ORG.AX but cuts its target price to A$12.10 from A$12.20
** Brokerage says APLNG production beat both its forecast and consensus estimates by about 1%, with volumes slightly above the midpoint of FY26 guidance
** On Friday, ORG logged 3% sequential rise in fourth-quarter revenue from its stake in the Australia Pacific LNG project (APLNG)
** Citi adds: FY27 APLNG production guidance of 625-670 petajoules was broadly in line with market expectations
** Citi cuts its FY26 core net profit forecast by 3% due to lower-than-expected APLNG revenue in the fourth quarter
** Brokerage sees modest downside risk to consensus Energy Markets EBITDA forecasts as warmer weather and lower gas prices weigh on earnings
** ORG shares down over 6% YTD

 (Reporting by Rajasik Mukherjee in Bengaluru; Editing by Edmund Klamann)
 ((Rajasik.Mukherjee@thomsonreuters.com))