1809 ET - AGL Energy loses a bear in Barrenjoey following its review of default retail electricity market offers for FY 2026 in several states. Barrenjoey raises AGL to neutral, from underweight, as the offers suggest a better-than-expected outcome. "Our AGL forecasts in FY 2026 are now 5% above consensus EPS, and we suspect the support for greater cost recovery in non-Victorian states (and improved margin outlook) should support sentiment through to FY26 profit guidance in August," analyst Dale Koenders says. Still, Barrenjoey remains concerned about the outlook for AGL's earnings in FY 2028 when gas and coal contracts reset. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 13, 2025 18:09 ET (22:09 GMT)
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