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Last Updated : Jul 02, 2019 12:34 PM IST | Source: Moneycontrol.com

Buy Petronet LNG; target of Rs 270: Sharekhan

Sharekhan is bullish on Petronet LNG has recommended buy rating on the stock with a target price of Rs 270 in its research report dated June 26, 2019.

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Sharekhan's research report on Petronet LNG


Volume growth likely to be supported by strong demand appetite for low-cost LNG (reflected in 5.6% y-o-y growth in India’s LNG imports during April-May 2019). PLNG may surprise with dividend payout similar to FY2019 level of 70% and, thus, could result in dividend yield of 4-5%.


Outlook


We maintain our Buy rating on Petronet LNG (PLNG) with unchanged PT of Rs. 270. Strong volume growth outlook led by expansion of Dahej capacity to 17.5 mmt and likely higher utilisation for Kochi terminal.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.




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First Published on Jul 2, 2019 12:34 pm
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