UBS Sticks to Their Buy Rating for Mahanagar Gas Ltd (MGL)
In a report released on June 27, Rwibhu Aon from UBS maintained a Buy rating on Mahanagar Gas Ltd (MGL – Research Report), with a price target of INR1,650.00. The company's shares closed last Friday at INR1,511.80.
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According to TipRanks, Aon is a 2-star analyst with an average return of 7.9% and a 100.00% success rate.
Currently, the analyst consensus on Mahanagar Gas Ltd is a Moderate Buy with an average price target of INR1,559.67, a 3.17% upside from current levels. In a report released on June 17, Nomura also upgraded the stock to a Buy with a INR1,680.00 price target.
Based on Mahanagar Gas Ltd's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of INR19.64 billion and a net profit of INR2.47 billion. In comparison, last year the company earned a revenue of INR16.13 billion and had a net profit of INR2.52 billion
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