In a potentially significant earnings driver, the Bouldercombe Battery Project (BBP) is aiming to take advantage of energy price arbitrage, explains Morgans. This comes as the National Electricity Market (NEM) has recently moved to five minute settlement.
The analyst points out an investment decision on BBP is expected later this quarter or early next quarter. Tesla has been selected as supplier for the project. The broker maintains its Add rating and $0.33 target price.
Sector: Utilities.
Target price is $0.33.Current Price is $0.23. Difference: $0.10 – (brackets indicate current price is over target). If GNX meets the Morgans target it will return approximately 30% (excluding dividends, fees and charges – negative figures indicate an expected loss).
