Prabhudas Lilladher is bullish on Petronet LNG has recommended buy rating on the stock with a target price of Rs 352 in its research report dated October 30, 2019.
Prabhudas Lilladher's research report on Petronet LNG
We tweak our estimates for FY20/21E to factor in lower tax rates even as we leave the operational numbers unchanged. PLNG is a play on India's rising LNG imports supported by benign spot LNG prices. We like PLNG's business model given high earnings visibility.
We see limited competition to PLNG's well-entrenched reach in the LNG business. Reiterate BUY with a DCF based PT of Rs352 (Rs338 earlier).
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