During 3Q results, Ampol's unveiled a Lytton Refiner Margin (LRM) 41% ahead of what both Morgan Stanley and consensus were expecting. 

The analysts' explain the Fluidised Catalytic Cracking Unit restarted in May and there was strength in gasoline and diesel product cracks.

Stronger refining margins and trading gains resulted in replacement cost operating profit (RCOP) group earnings (EBIT) rising by 61% on the previous corresponding period. This outcome exceeded forecasts by the broker and consensus by 46% and 36%, respectively.

Target $34.82. Equal-weight. Industry view is Attractive.

Sector: 0.

Target price is $34.82.Current Price is $32.94. Difference: $1.88 - (brackets indicate current price is over target). If ALD meets the Morgan Stanley target it will return approximately 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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