0347 GMT - AGL Energy's bull at Macquarie thinks the chances of the Australian power supplier generating a positive earnings surprise are receding. A note from an analyst at the investment bank points out that the weather heading into the Australian winter has been mild so far, while power pricing volatility is shrinking. Macquarie's base case is for flat earnings in fiscal 2026. That's still sufficient for the stock to keep its outperform rating, with the analyst note citing a favorable macro outlook from battery adoption and government policy. Macquarie trims its target price by 6.7% to A$11.47. Shares are up 1.0% at A$10.34. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 25, 2025 23:47 ET (03:47 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.