As a read through for AGL Energy, Morgan Stanley reviews results for competitor Energy Australia, after its parent CLP Group reported 1H results.

Based on Energy Australia's churn figures, the broker suggests AGL Energy may have grown market share at the margin.

Morgan Stanley reminds investors default and market retail tariffs across the National Electricity Market have increased significantly from July and expects strong revenue growth across all the Australia energy retailers.

The Equal-weight rating and $11.88 target are maintained. Industry View: Cautious.

Sector: Utilities.

Target price is $11.88.Current Price is $11.46. Difference: $0.42 - (brackets indicate current price is over target). If AGL meets the Morgan Stanley target it will return approximately 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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