The brokerage maintained its “Buy” rating on the stock and increased its price target to ₹1,200 per share from ₹935 earlier. The revised target implies a near 50% upside from Wednesday’s closing price of ₹801.
JM Financial raised its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) estimates for Aegis Logistics by 36% for FY27 and 15% for FY28, driven by stronger-than-expected performance in the LPG distribution segment.
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The brokerage highlighted that Aegis delivered LPG distribution volumes of 234 kilotonnes in the March quarter, marking a 72% year-on-year increase and coming nearly 40% ahead of its estimates.
JM Financial expects the disruptions to ship movements through the Strait of Hormuz to continue to affect global LPG trade flows through the first half of FY27. This, the brokerage said, will provide support to domestic LPG distribution demand.
It also noted that key connectivity projects remain on track, which should support further growth in LPG throughput volumes going forward.
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Four of the six analysts covering Aegis Logistics have a “Buy” recommendation, while two have a ‘Hold’ rating. No analyst tracking the stock has a “Sell” rating on it. The stock carries a consensus target of ₹966.60.
Shares of Aegis Logistics are trading 11.6% higher on Thursday at ₹895.1. The stock is close to its 52-week high of ₹944, having extended its year-to-date advance now to 25% after Thursday’s surge. The stock is also the top gainer on the Nifty 500 index on Thursday.
