# Jefferies downgrades Aegis Vopak to Hold after 35% rally 2026-08-17T07:36:42+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet Global brokerage Jefferies has downgraded liquid and gas logistics operator Aegis Vopak to a 'Hold' rating from a 'Buy', even as it raised its price target to Rs 280 from Rs 240. The downgrade follows a 35% outperformance against the Nifty since June, leaving limited near-term upside, Jefferies said. The company's first-quarter EBITDA beat consensus estimates by 14%, driven by a 31% year-on-year revenue jump in its liquids segment from strong volume at the Jawaharlal Nehru Port Authority terminal. In gas logistics, its joint venture handled 32% of India's total LPG imports in the quarter, maintaining high throughput despite a 45% national contraction in LPG import volumes. Jefferies noted that Aegis Vopak's multi-year capacity expansion is on track, but the stock trades at 33x estimated EV/EBITDA for September 2027. The brokerage said current valuations provide limited margin of safety, prompting the neutral stance. ## Coverage - ndtvprofit.com This story was synthesised by AI from the source linked above. Tags: Aegis Vopak, Jefferies, JNPA, Nifty Canonical: https://indianopinion.org/jefferies-downgrades-aegis-vopak-to-hold-after-35-rally/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/jefferies-downgrades-aegis-vopak-to-hold-after-35-rally/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes. How this brief was made: an AI model read the report linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/