Ampol Loses Bull After Share Price Hits Two-year High
Dow Jones
Jul 16
2317 GMT - Ampol's share price hit a two-year high this week as the U.S. and Iran trade new blows, prompting UBS to downgrade the stock to "neutral" from "buy" on valuation grounds. Analyst Tom Allen says Ampol is now trading on a multiple of 9.3x 2027 Ebit. That seems fair value to UBS, which adds it is in line with the historical average. Still, UBS says the re-escalation of the Middle East conflict suggests "upside risk on 2H26 refining Ebitda despite Lytton refinery commencing its 70-day planned maintenance from August 1." UBS raises its price target on Ampol by 16%, to A$36.65/share. Ampol ended Wednesday at A$37.14. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
July 15, 2026 19:17 ET (23:17 GMT)
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