Australia's Ampol rebounds; Macquarie, Morningstar cut earnings outlook

Shares of fuel retailer Ampol ALD.AX rise as much as 6.8% to A$22.05, their highest level since April 10

Stock rebounds after hitting a week low in the previous session after posting a 49% drop in its refinery margins during the first quarter at its Lytton refinery

Co moving in tandem with the domestic energy sub-index .AXEJ, which is up 3.6% as crude oil soars O/R

Morningstar however, cuts its earnings forecast for 2025 by 4% on the lower-than-expected quarterly refining outcome

"Our EPS are -8% in 2025E on lower refining margins and higher costs at Lytton" - Macquarie

Macquarie also cuts its Price Target by 0.8% to A$23.50, 'Neutral' on stock

Morningstar maintains fair value estimate of A$32.50

6 of 10 analysts rate the stock "buy" or higher, 4 "hold" ; their median PT is A$30.90 – Refinitiv data

YTD, shares down 21.8%