Petronet LNG has target of Rs 200: Jigar Shah

Petronet LNG has target of Rs 200, says Jigar Shah of Kimeng Securities.

Shah told CNBC-TV18, "We have been bullish on Petronet LNG for quite some time. I think their Q2 EPS jumped by almost 100% year on year and it is well on its way to achieve the Rs 13.3 EPS that we expect in the current year due to the shortage of domestic gas."
He further added, "As you know that Reliance KG-D6 product is down and the imports are the only way and the good thing is that Petronet has been expanding its capacity very well and is on course to achieving significant expansion in FY13 and 14 as well. So we have a target price of Rs 200 based on a PER of 15 times FY12 EPS."
The company's trailing 12-month (TTM) EPS was at Rs 11.92 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 13.65. The latest book value of the company is Rs 35.74 per share. At current value, the price-to-book value of the company was 4.55. The dividend yield of the company was 1.23%.