AGL rallied +2.4% on Thursday as the stock started to consolidate after correcting ~19%. AGL is well positioned to execute its strategy towards renewable energy, and although there is some risk that pricing dynamics could change, the stocks forecasted ~4.4% yield over the next 12 months will make it easier to adopt a patient approach.
- We have been long AGL since February, and after its 18.6% pullback, we are considering increasing our exposure – MM is long AGL in its Active Income Portfolio.
MM remains long and bullish toward AGL
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