Australian Gas Light Company

Australian Gas Light Company (AGL) Shares Recommendation


UBS has upgraded their recommendation for the Australian Gas Light Company (AGL) stock to Buy 2 from Neutral 1 with a share price target of $20.30. UBS notes that "AGL is substantially changing its business model. It is changing the business mix and the growth and risk profiles. Given the company's scale in the Australian customer market in particular, we believe this has the potential to be a value-adding strategy. The key element for investors will likely be execution risk and the valuation. We forecast 30% EPS growth between 2007 and 2009."

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