IGL
09.02.2022 - GS on IGL Maintain Sell CMP 393 Target 380
09.02.2022 - CLSA on IGL Maintain Outperform CMP 393 Target 450(PREVTGT 540)
09.02.2022 - Jefferies on IGL Maintain Buy CMP 393 Target 620
CREDIT SUISSE ON IGL : 09.07.2021
• Maintain Neutral, Target at Rs 550/share
* Price increase in CNG and residential PNG to add 5% to EBITDA
• Market is ignoring increasing capex at IGL for new regions
* Increase our target price to Rs 550 from Rs 500
* Increase FY22/23/24E EPS by 8%/10%/10% due to price increase
* Higher volume growth from new regions
NOMURA ON IGL : 28.06.2021
* MAINTAIN BUY TARGET: 650
* Nomura maintains Buy call on IGL with an expectation of upside risks to FY22-23 earnings
* Q4 Miss, But Overall Good Numbers
* Margin Likely To Be Ore Than Rs 8/scm In H1FY22
* Expect City Gas Cos To Pass Bulk Of Sharp Domestic Gas Price Hike In H2FY22
* See Upside Risks To FY22 23 Earnings
MACQUARIE ON IGL : 28.06.2021
* Macquarie maintains Outperform rating on IGL, but raises target to Rs 600 and FY23 EPS by 6% on a better margin outlook
* MAINTAIN OUTPERFORM TARGET: 600
* FY21 EBITDA Stood Largely Flat, Despite A 17% YoY Drop In Volumes
* Raise FY23 EPS Estimate By 6% On A Better Margin Outlook
* Faster Recovery Expected Post Second COVID Wave
CLSA ON IGL : 28.06.2021
* CLSA upgrades IGL to Buy as it finds co a good re opening play with rebound in mobility
* It's the Steadiest Volume growth Story In City Gas Space
* Recent Underperformance To MGL & Guj Gas Provides A Good Entry Point
* It Is Also A Good Post COVID-19 Re-opening Play With Rebound In Mobility,
* UPGRADE BUY TARGET: 630
CITI ON IGL : 28.06.2021
* Citi continues to have Buy call on IGL
• Underlying
* Performance Better, With Volumes Ahead Of Estimates
• Volumes Are Back Above Pre-COVID Levels
* MAINTAIN BUY TARGET: 640
CLSA ON IGL : 28.06.2021
* Upgrade to BUY from Outperform, Target at Rs 630/share
* Upgrade to BUY after recent underperformance of peers
* Inline net profit but Ebitda was a small 2% miss due to a lower gross margin
• Volume in Q4 was a clear beat with a positive surprise across segments
• Rising domestic gas prices should easily be digestible and not hurt margins
MORGAN STANLEY ON IGL : 28.06.2021
* Morgan Stanley sees upside risks to earnings growth for IGL
* MAINTAIN OVERWEIGHT TARGET: 650
• Reported An Earnings Beat On Better Volume Growth & Cost Control
* See Upside Risks To Earnings Growth Ahead
