Jefferies downgrades 5 stocks including GAIL,BPCL, Gujarat Gas to underperform in Oil&Gas sector; whereas Mahanagar Gas still remains the top pic of Jefferies
时间:2024-06-17 01:03:58 阅读（143）
In a recent analysis of the Oil & Gas sector, Jefferies has downgraded five stocks, including GAIL, Gujarat Gas, Bharat Petroleum, Hindustan Petroleum, and Petronet LNG, to ‘underperform.’
However, Mahanagar Gas continues to hold its position as Jefferies’ top pick. The brokerage firm suggests a ‘hold’ rating for Indraprasth and Indian Oil.
The report notes that the valuation for GAIL is perceived as rich, marked by a deviation of +2 standard deviations, coupled with an anticipated flattish FY24-26E EPS. Jefferies favors Mahanagar Gas among City Gas Distribution (CGD) companies due to its robust earnings visibility, attractive valuation, and dividend yield.
While maintaining ‘underperform’ ratings for BPCL and HPCL, Jefferies cities premium valuations compared to the last cycle average as the primary reason. The report underscores the reasonable valuation and potential upside risks in Reliance Industries, including the possible listing of Jio and value discovery in the New Energy sector.
Here are the top stocks in the Oil & Gas sector on which Jefferies has provided predictionsGAIL (GAIL (india) Limited)BUY | CMP: 162 | TARGET: 143 | Rating: UNDERPERFORM
MGL (Mahanagar Gas Limited)BUY | CMP: 1223 | TARGET: 1450 | Rating: BUY
IGL (Indraprastha Gas Limited)BUY | CMP: 422 | TARGET: 430 | Rating: HOLD
GUJGASLTD (Gujarat Gas Limited)BUY | CMP: 498 | TARGET: 385 | Rating: UNDERPERFORM
BPCL (Bharat Petroleum Corp Limited)BUY | CMP: 461 | TARGET: 405 | Rating: UNDERPERFORM
HINDPETRO (Hindustan Petroleum Corp)BUY | CMP: 422 | TARGET: 330 | Rating: UNDERPERFORM
IOC (Indian Oil Corp Ltd)BUY | CMP: 132 | TARGET: 130 | Rating: HOLD
PETRONET (Petronet LNG Limited)BUY | CMP: 229 | TARGET: 195 | Rating: UNDERPERFORM
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