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

Reuters

Jan 29, 2025

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

** 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;))

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