UBS anticipates new renewable projects in Victoria along with the company’s success in securing the western Victoria transmission upgrade could mean there are a number of catalysts to be outlined at the FY20 results on May 12.
While the balance sheet is not observed to be under stress, the broker can contemplates several reasons why the company may raise equity this year.
This includes funding a large growth program, maintaining the A- credit rating and supporting distribution growth in the medium term. Buy rating and $1.85 target retained.
Sector: Utilities.
Target price is $1.85.Current Price is $1.85. Difference: $0.00 – (brackets indicate current price is over target). If AST meets the UBS target it will return approximately 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).
