The AGL Energy Limited (ASX: AGL) share price has struggled through 2021 — does that make it a good 2022 investment?
As of Friday's close, the AGL share price is $5.96. That's 50.8% lower than it was at the start of this year.
For context, the S&P/ASX 200 Index (ASX: XJO) has gained 9.2% over the same period.
Let's take a look at what the experts think 2022 could bring for the embattled company's stock.
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What might 2022 bring for the AGL share price?
The big happening expected to drive the energy provider's share price in the new year is, of course, its planned split.
Under the plan, AGL Energy's electricity-generating assets will be taken on by the newly formed, Accel Energy. Meanwhile, its retail, energy storage, and supply leg with be run by AGL Australia.
That's got Ord Minnett bullish on the stock.
As The Motley Fool Australia recently reported, the broker believes the AGL share price is priced so low that it's a good investment for its future retail division alone.
Late last month, it slapped AGL's stock with a $7.55 price target – which currently implies a 26% upside on the company's share price.
Another expert is also optimistic about the energy provider's performance next year.
Author of Market Matters and Shaw and Partners senior investment advisor James Gerrish agreed with Ord Minnett, saying AGL is now "an asset at play".
Gerrish told Livewire he expects the company's stock to "do better in '22 than it did in '21".
However, not everyone thinks AGL's planned demerger is a good idea.
Earlier this year, former energy industry leader Matthew Warren expressed his belief the split could see AGL without its major shield from energy prices – conglomeration.
Additionally, he believes Australians will increasingly create their own household electricity using renewable power, as will smaller, up-and-coming energy companies.
Still, the company's stock has been recovering lost ground lately. The AGL share price has gained 13.7% over the last 30 days.
