AGL Energy announced -$3.6bn in impairments and provisions before tax, comprising $1.9bn in contract provisions and $1.12bn in environmental remediation provisions. This leads to a -$1.6 reduction in Credit Suisse’s target price.
Credit Suisse retains its Underperform rating with the target price decreasing to $9.50 from $11.10.
Sector: Utilities.
Target price is $9.50.Current Price is $11.42. Difference: ($1.92) – (brackets indicate current price is over target). If AGL meets the Credit Suisse target it will return approximately -20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
