APA - Macquarie rates the stock as Neutral
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The AEMC's draft report on scheme pipelines notes that if implemented in full, the new package will help pipeline users negotiate lower prices and better terms for their gas transportation. The broker had allowed -$40m of risk with regard to the new scheme, but the scope of this proposal takes that to -$70m, or -28cps.
APA's earnings certainty will remain clouded for the next 12-24 months, the broker warns. Neutral and $7.82 target retained.
Target price is $7.82.Current Price is $7.74. Difference: $0.08 - (brackets indicate current price is over target). If APA meets the Macquarie target it will return approximately 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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