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Investing.com - Jefferies has lowered its price target on Gail (India) Ltd. (NS:GAIL) to INR205.00 from INR210.00 while maintaining a Buy rating on the stock.
The research firm cited the company’s reduced transmission volume guidance as a key factor for the adjustment. Management lowered transmission volume guidance by 4% for both fiscal years 2026 and 2027, indicating no growth expected in the current fiscal year.
Jefferies noted that Gail’s reported adjusted EBITDA decreased 29% year-over-year, with transmission and trading segments performing marginally ahead of expectations. The results were in line with Jefferies’ estimates.
Despite lowering EBITDA forecasts by 1% for FY26 and 2% for FY27, Jefferies maintained its Buy rating, suggesting the current valuation at long-term average forward PE multiple does not account for a potential tariff increase.
The firm highlighted that a likely tariff hike of 10% could add approximately 12% to the company’s fair value, potentially offsetting concerns about flat transmission volume growth.
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