AGL Energy's Former Bull Warns of Downgrade Cycle -- Market Talk

Dow Jones

Mar 11

0129 GMT - AGL Energy loses its bull at Macquarie, where the Australian power retailer is seen entering an earnings downgrade cycle. Lowering their recommendation to neutral from outperform, a note from one of the investment bank's analysts warn that the near-term outlook for earnings is bleak until coal plants close in fiscal 2029. With government ensuring that replacement capacity is in place prior to closure, the note cautions that oversupply will weigh until then. AGL is favorably leveraged to the first coal plant closures, but Macquarie lowers its fiscal 2028 earnings forecast by 28% and only sees power prices recovering after that. Target price falls 7.6% to A$9.61. Shares are down 5.1% at A$9.06. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

March 10, 2026 21:29 ET (01:29 GMT)

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Lowering their recommendation to neutral from outperform, a note from one of the investment bank's analysts warn that the near-term outlook for earnings is bleak until coal plants close in fiscal 2029. With government ensuring that replacement capacity is in place prior to closure, the note cautions that oversupply will weigh until then. AGL is favorably leveraged to the first coal plant closures, but Macquarie lowers its fiscal 2028 earnings forecast by 28% and only sees power prices recovering after that. Target price falls 7.6% to A$9.61. Shares are down 5.1% at A$9.06. 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Lowering their recommendation to neutral from outperform, a note from one of the investment bank's analysts warn that the near-term outlook for earnings is bleak until coal plants close in fiscal 2029. With government ensuring that replacement capacity is in place prior to closure, the note cautions that oversupply will weigh until then. AGL is favorably leveraged to the first coal plant closures, but Macquarie lowers its fiscal 2028 earnings forecast by 28% and only sees power prices recovering after that. Target price falls 7.6% to A$9.61. Shares are down 5.1% at A$9.06. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 10, 2026 21:29 ET (01:29 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AGL","symbol_name":"agilon health, inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2618006995","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2618006995","pubTimestamp":1773192540,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0129 GMT - AGL Energy loses its bull at Macquarie, where the Australian power retailer is seen entering an earnings downgrade cycle. Lowering their recommendation to neutral from outperform, a note from one of the investment bank's analysts warn that the near-term outlook for earnings is bleak until coal plants close in fiscal 2029. With government ensuring that replacement capacity is in place prior to closure, the note cautions that oversupply will weigh until then. AGL is favorably leveraged to the first coal plant closures, but Macquarie lowers its fiscal 2028 earnings forecast by 28% and only sees power prices recovering after that. Target price falls 7.6% to A$9.61. Shares are down 5.1% at A$9.06. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"AGL":"agilon health, inc."},"translate_title":"AGL Energy前牛市警告降级周期——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AGL":1.5},"content_text":"0129 GMT - AGL Energy loses its bull at Macquarie, where the Australian power retailer is seen entering an earnings downgrade cycle. Lowering their recommendation to neutral from outperform, a note from one of the investment bank's analysts warn that the near-term outlook for earnings is bleak until coal plants close in fiscal 2029. With government ensuring that replacement capacity is in place prior to closure, the note cautions that oversupply will weigh until then. AGL is favorably leveraged to the first coal plant closures, but Macquarie lowers its fiscal 2028 earnings forecast by 28% and only sees power prices recovering after that. Target price falls 7.6% to A$9.61. Shares are down 5.1% at A$9.06. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 10, 2026 21:29 ET (01:29 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}