BUZZ-Jefferies raises price target for Australia's Ampol, retains 'buy' rating

Reuters
07-24
BUZZ-Jefferies raises price target for Australia's Ampol, retains 'buy' rating

** Brokerage firm Jefferies raised PT for Ampol ALD.AX to A$31.50 and retained its "buy" rating on the stock

** Jefferies says Ampol's first-half trading update showed higher value retail & commercial businesses are performing well, with strong margins helping offset headwinds from declining fuel volumes

** Earnings per share upgrades were larger given lower net interest expense assumptions and one-off lower-than-average tax rate in 1H25 — brokerage

** The brokerage expects growth to be supported by expansion of U-GO, its self-service stations, and store 'refreshes' in New Zealand

** Six of 10 analysts rate the stock "buy" or higher, four "hold"; their median PT is A$31.50, according to data compiled by LSEG

** Stock is down 1.4% YTD, as of last close

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com))

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