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AGL Energy Ltd (AGL) $10.93

AGL fought the tide on Monday, gaining +0.9 % after struggling in February when it delivered lower 1H25 earnings despite higher revenue; we felt the numbers were ok, but the market appears nervous ahead of their full-year results due in August. Labor’s landslide victory on the weekend is a win for clean energy, especially after they announced plans to subsidise cheaper home batteries to the tune of $2.3 billion, touted to reduce the upfront cost by around 30%. As one of Australia’s largest integrated energy companies, AGL is already actively transitioning its energy portfolio towards renewable sources, and we can see it benefitting from the rapidly evolving next chapter. We wouldn’t be surprised to see the company beat muted expectations in August, allowing it to retest the $12 area.

AGL
MM is long and bullish AGL
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AGL Energy Ltd (AGL)
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