Shares of Petronet LNG jumped on strong Q4 show. The stock rose as much as 2.8 per cent to Rs 216.10. The company, engaged in the sale of re-gasified liquefied natural gas, has posted 11 per cent rise in quarterly profit.

Morgan Stanley expects volume growth to remain strong, enabling the company to deliver an earnings CAGR of about 20 per cent over fiscal 2017-2020, driven by Dahej expansion, gradual ramp-up at Kochi, and tariff escalations.

“Dahej utilisation remains high. With the shutdown of Dabhol terminal for monsoon, and the start of the new Mundra/Jaigarh terminal a few months away, utilisation should remain strong in near term,’’ Nomura says.

PLNG, with capacity expansion at Dahej and ramp-up at the Kochi terminal over the next 15 months, looks well placed to benefit from LNG demand surge in India, says Deutsche Bank.

With India's LNG macro turning, FY19 may be more challenging but PLNG still looks best placed to navigate it, leaving its earnings secure, say Jefferies analysts. They have kept ”buy” rating on the stock with a price target of Rs 290.

Morgan Stanley has kept “overweight” rating with a price target of Rs 319. Deutsche Bank has kept “buy” rating with a price target of Rs 310 and Nomura has retained “buy” rating with a price target of Rs 300.

Of the 38 brokerages covering the stock, 24 have rated it “buy” or higher, 9 “hold” and 5 “sell” or lower; their median price target is Rs 293, according to Thomson Reuters data.

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