Tuesday, September 20, 2011

Buy Petronet LNG - Recommends Goldman Sachs

Petronet LNG stock has been upgraded by Goldman Sachs  to buy from neutral with a target of Rs 225 an appreciation of almost 30% from current levels. Goldman expects greater sustainability of its high margins from increased spot LNG volumes.
The current market price of the stock as on 19th Sep 2011 is Rs. 173.40 and commands a market cap of INR 13,000 crores.

52 week high low for the stock is 185.80 / 105.10.

The chart of Petronet LNG looks extremely bullish which has been on uptrend since March 2011. After very smart run up, the stock is consolidating in the range of 170 to 180 since past 2 months.

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