Credit Suisse does not expect Origin Energy to suffer the same earnings impact from June quarter spot electricity prices as AGL Energy ((AGL)) given good availability and models a -$15m impact.
The broker reduces integrated gas operating earnings forecast by -4.7% because of lower reported domestic gas prices in the third quarter and lower anticipated LNG exports in the fourth quarter.
For FY22 energy markets operating earnings forecasts are reduced by -10%. Target is raised to $4.50 from $4.20. Neutral maintained.
Sector: Energy.
Target price is $4.50.Current Price is $4.65. Difference: ($0.15) – (brackets indicate current price is over target). If ORG meets the Credit Suisse target it will return approximately -3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
