BUZZ-Aussie fuel retailer Ampol gains; Morningstar positive despite profit drop
Reuters · 08/20 02:40
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** Shares of Australian fuel retailer Ampol ALD.AX rise as much as 2.5% to A$31.31
** Stock marks its biggest intraday gain since July 12
** Analysts at Morningstar keep their forecast unchanged for five-year group compound annual growth in revenue of 5% by 2028 despite dismal earnings
** Brokerage sees limited long-term impact from co's weaker profit; keeps A$35 fair value estimate unchanged
** Improvement in retail margins in response to ongoing focus on marquee highway sites and unlocking food service potential are -term catalysts for co - Morningstar
** Stock has fallen 14.2% this year, as of last close
(Reporting by Rishav Chatterjee in Bengaluru)
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