Aussie fuel retailer Viva Energy drops as UBS lowers PT after dismal update

Viva Energy

29/01/2025 02:33

** Shares of Australia's Viva Energy  VEA.AX  fall 1.11% to
A$2.6, their lowest levels since Dec 24, 2024
    ** Analysts at UBS lower price target on the fuel retailer
to A$3.2 from A$3.4, and maintain "buy" rating on stock
    ** Viva said on Tuesday it expected annual EBITDA from
convenience and mobility (C&I) business to be around the bottom
of its outlook range of A$230 mln ($143.36 mln) to A$260 mln
    ** Co posted margin at its Geelong refinery of $6.7/BBL,
about 24% lower than last year's levels 
    ** The investment research firm says refining outlook
remains challenging for the sector and co's brand recognition
will remain an uncertainty
    ** UBS lowers earnings expectations on Viva for 2024 by 18%
to reflect weaker December quarter refining EBITDA and group
guidance
    ** Cuts 2025 earnings by 15% after taking into account a
softer refining outlook
    ** Stock down 1.1% YTD

    ($1 = 1.6044 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))