May 22, 2018 / 5:12 AM / in a year

BUZZ-India's Petronet LNG rises on strong Q4 show

** Petronet LNG Ltd (PLNG) rises as much as 2.8 pct to 216.10 rupees

** Co, engaged in sale of re-gasified liquefied natural gas, posted 11 pct rise in qtrly profit

** Morgan Stanley expects volume growth to remain strong, enabling co to deliver an earnings CAGR of about 20 pct over fiscal 2017-2020, driven by Dahej expansion, gradual ramp-up at Kochi, and tariff escalations

** Dahej utilisation remains high. With the shutdown of Dabhol terminal for monsoon, and the start of the new Mundra/Jaigarh terminal a few months away, utilisation should remain strong in near term - Nomura

** PLNG, with capacity expansion at Dahej and ramp-up at the Kochi terminal over the next 15 months, looks well placed to benefit from LNG demand surge in India - Deutsche Bank

** With India’s LNG macro turning, FY19 may be more challenging but PLNG still looks best placed to navigate it, leaving its earnings secure, Jefferies analysts write, keeping “buy” rating on the stock with PT of 290 rupees

** Morgan Stanley keeps “overweight” rating with PT of 319 rupees, Deutsche Bank has “buy” rating with PT of 310 rupees and Nomura retains “buy” rating with TP of 300 rupees

** Of the 38 brokerages covering the stock, 24 rate it “buy” or higher, 9 “hold” and 5 “sell” or lower; median PT 293 rupees - Thomson Reuters data

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