AGL shrugged off yesterday’s strong employment data to close up +0.95% and +22.7% year-to-date. Our positive outlook for AGL has not changed; we anticipate strong free cash flow (FCF) as the company transitions towards a broad series of battery and solar development options. As earnings improve, the dividend is expected to follow and should be well above 6% in coming years, so a slightly less dovish outlook on rates into 2025 shouldn’t impact the stock too much.
- We are initially targeting a test of $13 for AGL – MM holds AGL in our Active Growth and Active Income Portfolios.
MM is long and bullish AGL
Add To Hit List
