Morgan Stanley updates energy price forecasts for its research coverage of Australian Energy and reviews upcoming quarterly results.

For Ampol, the broker forecasts a 1Q Lytton refining margin of around US$15/bbl (consensus US$10.81/bbl).

The Equal-weight rating and $40 target are maintained. Industry view: Attractive. 

Sector: Energy.

Target price is $40.00.Current Price is $38.34. Difference: $1.66 - (brackets indicate current price is over target). If ALD meets the Morgan Stanley target it will return approximately 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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