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Investing.com - Jefferies initiated coverage on Aegis Vopak (AS:VOPA) Terminals (AEGISVOP:IN) with a Hold rating and a price target of INR270.00 on Tuesday.
The research firm views Aegis Vopak Terminals as a play on India’s Liquified Petroleum Gas (LPG) consumption growth, which is primarily driven by imports.
Jefferies noted that the company owns and operates a network of storage terminals for LPG and liquid products across India.
The firm projects a 28% EBITDA CAGR from FY25 to FY30, supported by both organic and inorganic capacity expansions, along with improved asset utilization through evacuation infrastructure development.
Despite the positive growth outlook, Jefferies indicated that the stock’s current valuation at 34x 12-month forward EV/EBITDA limits potential upside, justifying the Hold rating.
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