Shares of Aegis Vopak Terminals rallied as much as 6% to their day’s high of Rs 203 on the BSE on Wednesday after international brokerage firm Jefferies upgraded the stock to Buy and assigned a fresh target price of Rs 240, implying an upside of 25% from current market levels.
While the brokerage has cut its target price from Rs 255, it believes the recent correction in Aegis Vopak Terminals (AVTL) has been excessive. The stock has fallen 16% since Middle East tensions escalated, compared with an 8% decline in the Nifty. While near-term risks persist, the brokerage expects LPG import volumes to normalise once geopolitical tensions ease.