Kotak Securities is bullish on Petronet LNG has recommended buy rating on the stock with a target price of Rs 276 in its research report dated March 09, 2018.
Kotak Securities' research report on Petronet LNG
We believe Petronet's earnings will continue to rise over the next 2-3 years, driven by higher volumes from Dahej LNG regasification terminal and a higher operating rate of the currently stranded Kochi terminal. Construction of the pipeline to evacuate gas from Kochi is progressing well. PLNG is eyeing to invest in the overseas LNG market which will help him in geographical diversification and further expansion.
Outlook
We maintain BUY on the stock with a revised price target of Rs.276/- (earlier Rs.285) including equity value of 26% stake in Dahej Port. Given that most of the capacity at Dahej is tied-up, there is strong visibility on the free cash flow.For all recommendations report, click here
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