Tuesday 11 November 2008

Buy Petronet LNG, target of Rs 48: KRChoksey

KRChoksey Research has maintained its buy rating on Petronet LNG with a target price of Rs 48 in its October 20, 2008 research report. "Net sales declined 0.9% y-o-y to Rs 1654.9 crore in Q2FY09. EBITDA registered a decline of 15.0% y-o-y to Rs 182.3 crore & PAT decline by 10.5% y-o-y to Rs 103.4 crore. At the CMP of Rs 39.1, Petronet LNG is trading at 6.4x its TTM earnings and 6.3x its FY09E EPS of Rs 6.2. We maintain a buy on the stock with target price of Rs 48. At the target price the stock would be valued at 6.8x its FY10E EPS of Rs 7.0, and 1.5x P/BV, says KRChoksey's research report.

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Source: Moneycontrol

Posted by Harsh at 07:43

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