BPCL Rating
MS ON BPCL : 27.05.2021
* MAINTAIN OVERWEIGHT TARGET: 480
* Morgan Stanley maintains OVERWEIGHT rating on BPCL, notes that co's core earnings are largely in-line
Core Earnings Largely In-line
* It Operationally Outperformed Peers On Utilisation Rates
* Gained Market Share In Retail Fuel Marketing
* Progress On Divestment, Demand Recovery Will be Key
* Retail Fuel Price Hikes & Dividend Drives Positive Stance
JEFFERIES ON BPCL : 27.05.2021
* MAINTAIN BUY TARGET:520
* Jefferies maintains BUY call on BPCL, target at Rs.520/sh
* In-line Core EBITDA, With Inventory Gains Driving A Large Beat
* Marketing Volume Growth Faster Than Industry Growth
* Mktg Profitability To Be Restored As Retail Price Hikes Continue
* Dividend Of 58/Sh & Low Capex Pleasantly Surprised
* Cut FY22/23 EBITDA By 8/5%; Privatisation Key For Further Upside
JPMORGAN ON BPCL : 27.05.2021
* MAINTAIN OVERWEIGHT TARGET: 550
* JPMorgan maintains OVERWEIGHT call on BPCL, says large one-time dividend is the main highlight of a strong quarter
* Large One-time Dividend Main Highlight Of A Strong Quarter
* Progress On Privatisation Is Key
• Relative Outperformance Of OMCS Vs Benchmark Should Continue
BROKERAGE RADAR CITI ON BPCL : 27.05.2021
* Maintain BUY, Target at Rs 505/share
* Inventory gains drive beat; big dividend announced
* Final dividend is positive and above most expectations; will support stock in the near term
* Reiterate our positive view on the OMCS & Maintain Buy on BPCL
