Petronet LNG share price target cut by Nomura as West Asia crisis may hurt volumes
Published on 20/03/2026 08:05 AM
Petronet LNG share price target cut by Nomura as West Asia crisis may hurt volumesSince India-specific trains were not damaged in Qatar, Nomura believes that Indian supplies might resume, once the Force Majeure that is currently in place, is lifted.By Hormaz Fatakia March 20, 2026, 8:05:44 AM IST (Published)2 Min ReadBrokerage firm Nomura has cut its price target on shares of Petronet LNG Ltd. in its latest note on Friday, March 20.
However, Nomura has maintained its "buy" rating on the stock but cut its price target to ₹340 from ₹370 earlier. The revised price target implies an upside potential of 25% from current levels.
Nomura has observed in its note, citing the management of Petronet LNG, that India-specific trains were not damaged during the attacks on QatarEnergy's Ras Laffan Industrial Complex.
The brokerage believes that the crisis in West Asia may hurt near-term volumes for Petronet LNG.
As a result of this, Nomura has cut its financial year 2027 Earnings Before Interest, Before Interest, Tax, Depreciation and Amortisation (EBITDA) estimates for Petronet LNG by 23%, as it believes that the Ras Laffan unit may take months to come back online.
Since India-specific trains were not damaged, Nomura believes that Indian supplies might resume, once the Force Majeure that is currently in place, is lifted.
According to QatarEnergy's CEO, there has been a long-term damage to two out of the 14 LNG trains, which could lead to 12.8 million tonnes, or 17% of the overall capacity to be offline for three to five years.
At the current price, Petronet LNG is trading at 11.7 times its estimated financial year 2027 price-to-earnings and 1.8 times financial year 2027 forward price-to-book.
33 analysts have coverage on Petronet LNG, of which 20 have a "buy" rating, seven say "hold", while six have a "sell" recommendation on the stock.
Shares of Petronet LNG ended 7% lower on Thursday at ₹271.9, which is near its recent 52-week low of ₹263.5.Continue ReadingTagsForce Majeuregas pipelinePetronet LNGQatarUS Iran war