Petronet LNG  
1-Jan-1970


CMP: RS 53.20 TARGET PRICE: RS 70
RAYMOND James has reaffirmed its ?buy? rating on Petronet LNG, and raised its price target for the stock from Rs 66 to Rs 70, citing sustained growth in volumes over the next few quarters. ?Higher-thanexpected volumes arriving from Qatar and four spot cargos led the surge in earnings ((for October-December) for PLL. We believe these volumes would be maintained in 4Q FY07 and expect this trend to continue for next 4-5 quarters,? the ASK Raymond James note to clients said. ?We have upgraded our earnings estimate for Petronet by 8-18% for FY07(estimated)-FY09E. Based on our upgraded earnings, we expect PLL to clock 25% CAGR growth in revenues over FY06-09E and 33% CAGR growth in PAT over the same period,? the note added.  


Source: The Economic Times, New Delhi, January 31, 2007
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