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.
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%.
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.
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