While FY23 guidance by AGL Energy was subdued, Morgan Stanley notes it was within expectations.

The company intends to exit coal generation by the end of FY35 and the broker highlights views the 12-year replacement plan positively.

The plan involves -$20bn of capex (the company's share will be lower) compared to the -$5bn spent over the last 20 years.

Industry view is Cautious.

Sector: Utilities.

Target price is $8.01.Current Price is $6.60. Difference: $1.41 - (brackets indicate current price is over target). If AGL meets the Morgan Stanley target it will return approximately 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena