Buy Petronet LNG, target of Rs 63: Karvy

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Buy Petronet LNG, target of Rs 63: Karvy

Karvy Stock Broking has changed its rating on Petronet LNG from market performer to buy with a target of Rs 63. For FY09, the research firm expects the revenue growth of 9.8% to Rs 71,948 million and adjusted profit to rise by 11.9% to Rs 5,309 million.

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Karvy Stock Broking has changed its rating on Petronet LNG from market performer to buy with a target of Rs 63 in its October 15, 2008 research report. "For FY09, we expect the revenue growth of 9.8% to Rs 71,948 million and adjusted profit to rise by 11.9% to Rs 5,309 million. We maintain our target price of Rs 63, but change our rating from Market performer to BUY due to the fall in market price," says Karvy Stock Broking's research report.

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