Indraprastha Gas (IGL) share price today: Jefferies maintains Hold on IGL with an unchanged price target of Rs 580
Indraprastha Gas (IGL) share price today: While EBITDA was 28% higher yoy for IGL, it missed Jefferies estimate by 7% on lower volumes (2% miss) and EBITDA margin (6% miss). Jefferies have factored in the 10% earnings miss in Q3 FY21 and a softer Q4 FY21E leading to a 5% cut in FY21E EPS but keep FY22-23E EPS broadly unchanged.
Jefferies maintain Hold with an unchanged Rs 580 price target as the strong near-term earnings outlook appears priced in at valuations above 23x FY22E P/E: ANI