India's Aegis Vopak drops as Jefferies cuts rating to 'hold'

Aegis Vopak Terminals

17/08/2026 06:01

** Shares of Aegis Vopak Terminals AEGI.NS fall 1.2% to 265.75 rupees
** Jefferies downgrades liquid and gas storage terminals operator's stock to "hold" from "buy" with PT of 280 rupees
** Brokerage says the stock trades at a rich valuation of 33x Sep-2027 EV/EBITDA, leaving limited upside 
** Jefferies flags execution risks, such as weaker LPG imports and slower market-share expansion, around achieving targeted LPG market share gains, calling co's FY30 assumptions a "tall ask"
** While Q1 EBITDA beat estimates and expansion plans remain on track, Jefferies says growth potential is largely reflected in the current valuation
** YTD, stock up 6.3%

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))