Buy Petronet LNG Ltd., target Rs 369.0 : Emkay Global Financial Services

Emkay Global Financial Services has Buy call on Petronet LNG Ltd. with a target price of Rs 369.0. The current market price of Petronet LNG Ltd. is 333.1. Time period given by analyst is year, when Petronet LNG Ltd. price can reach defined target. The brokerage has cited pickup in LT volumes, commissioning of Dahej terminal, and expected resolution on Kochi pipeline. With full volume tie-up with off takers and expected resolution on Kochi pipeline, Emkay believes the company deserves premium valuation of 15x 1-year forward PE compared to the current level of 11.6 times FY18E.