Morgan Stanley updates energy price forecasts for its research coverage of Australian Energy and reviews upcoming quarterly results.

For Viva Energy, the broker is anticipating a 1Q Geelong refining margin of around US$13/bbl and an update on management's around $$1.25bn earnings (EBITDA) target over five years.

The Equal-weight rating is maintained and the target rises to $3.75 from $3.65. Industry view: Attractive. 

Sector: Energy.

Target price is $3.75.Current Price is $3.48. Difference: $0.27 - (brackets indicate current price is over target). If VEA meets the Morgan Stanley target it will return approximately 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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