0450 GMT - Ampol's bull at Jefferies is confident that the Australian fuel refiner will maintain discipline if they encounter acquisition opportunities. Analyst Michael Simotas tells clients in a note that Ampol's management has a strong track record of extracting shareholder value. He points to its 2022 acquisition of New Zealand's Z Energy as an example. Simotas estimates Ampol will receive A$45 million cash proceeds from the divestment of its loss-making retail electricity businesses, one of which sat within Z Energy. Jefferies lifts its target price by 3.3% to A$31.00 and keeps a buy rating on the stock. Shares are up 1.4% at A$26.13. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 13, 2025 00:50 ET (04:50 GMT)
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