JPMorgan has reiterated its Overweight rating on Petronet LNG’s share price, setting a target price of ₹377 per share, indicating a potential 26% upside from the current market price (CMP) of ₹298.65.
The brokerage highlights key catalysts that could drive EBITDA growth, particularly the start of a new 5 million tonnes per annum (mtpa) regasification capacity at Dahej, expected to be operational by June 2025. This expansion is expected to significantly boost earnings and support future volume growth.
Additionally, seasonal summer demand for power is likely to increase LNG imports, providing a near-term tailwind for the company’s performance. JPMorgan also notes that completion of tariff renegotiations with GAIL, IOCL, and BPCL could remove a major overhang on the stock, further improving investor sentiment.
With these positive triggers in place, JPMorgan believes Petronet LNG is well-positioned for strong earnings momentum in the coming quarters.
Disclaimer
This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research or consult a professional advisor before making investment decisions.
