Edelweiss recommended hold rating on Petronet LNG with a target price of Rs 407 in its research report dated February 13, 2017.
Edelweiss' research report on Petronet LNG
We expect strong growth in near‐term volumes on expanded Dahej capacity, which are largely secured through use‐or‐pay contracts. We forecast robust 20% EPS CAGR over FY16‐21 (volume CAGR: 13%). However, the stock is expensive at 2.8x FY19E P/BV with RoE of 19%, largely pricing in the upside. We maintain ‘HOLD/SP’.
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