ORG is up +20% in 2024, slightly behind AGL at this stage. The company’s recent results weren’t great, which saw the stock pullback around 14%. Underwhelming FY25 guidance garnered the most attention, with the pullback amplified by the stock’s strong advance over recent years. The simple issue was ORG were expected to deliver more because of the soaring earnings in the energy generation and retailing businesses after customers were hit with higher tariffs to make up for a rise in wholesale costs, i.e. this was a year when ORG should have performed.
- We initially target a break of post-COVID highs for ORG or 12-15% higher, but it’s unlikely to be on a MM hitlist in 2024.
MM is cautiously bullish towards ORG ~$10
Add To Hit List
