Buy Petronet LNG; target of Rs 380: Religare

Religare is bullish on Petronet LNG has recommended buy rating on the stock with a target price of Rs 380 in its research report dated September 06, 2016.

September 08, 2016 / 18:08 IST

26 Aug, 2025 12:21

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Religare's research report on Petronet LNG

PLNG outperformed on all operating metrics in Q1, with PAT surging 98% YoY to Rs 3.8bn (adj. for tax write-backs in Q1FY16). Earnings growth was led by a 40% YoY expansion in operating margins to Rs 38/mmbtu, implying an EBITDA of Rs 6.4bn (+80% YoY). PLNG saw positive marketing margins (15% of EBITDA margins) after three quarters of marketing losses – a key positive. Sustained margin expansion should lead to earnings upgrades. We introduce FY19E earnings and restate BUY on the stock (Sep’17 TP Rs 380).For all recommendations, 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.

first published: Sep 8, 2016 06:08 pm

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