UBS 'double upgrades' Gail India to buy; sees 25% upside in the stock
UBS has 'double upgraded' Gail (India) to 'buy' from its earlier 'sell' recommendation with a price target of Rs 150 (Rs 80 earlier). The research and brokerage house believes that the markets are yet to fully price in the upside to realised tariffs (from tariff integration), as well as the scope of India's improving gas demand and GAIL's pipeline expansion. For Gail, UBS expects 8 per cent compounded volume growth (CAGR) over FY23-26.
Source: rediff.com