I posted a couple of months ago that Ord Minnett had suggested AGL could be worth more than $10 per share based on the Meridian Energy deal that had recently taken place;
The broker also notes the recent deal activity for Meridian Energy Ltd’s (ASX: MEZ)Australian business for a total of $729 million. Shell Energy is going to own the retail business, Powershop Australia. Ord Minnett thinks that the retail division of AGL could be worth more than $10 per share based on the Meridian Energy deal.
Worst case scenario is now $7.50 a share so hopefully only potential moves up from this price. Having the share price at $5 something is hopefully now behind us.
AGL Price at posting:
$7.16 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)