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Goldman Sachs upgrades DLF to ‘buy’ on upcoming projects

Goldman Sachs says DLF will also benefit from expected cuts in interest rates, continued debt reduction
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First Published: Thu, Jan 24 2013. 10 29 AM IST
A file photo of Goldman Sachs headquarters in New York. Goldman Sachs raised its 12-month target price on DLF shares to Rs295 from Rs224. Photo: Reuters
A file photo of Goldman Sachs headquarters in New York. Goldman Sachs raised its 12-month target price on DLF shares to Rs295 from Rs224. Photo: Reuters
Updated: Thu, Jan 24 2013. 12 38 PM IST
Mumbai: Goldman Sachs upgraded its rating for DLF Ltd to “buy” from “neutral”, citing upcoming residential project launches worth Rs.13,000 crore over the next three quarters.
The upcoming projects include residential developments in Gurgaon, close to the capital, New Delhi.
Goldman said DLF would also benefit from expected cuts in interest rates and continued debt reduction.
The investment bank raised its 12-month target price on DLF shares to Rs.295 from Rs.224. The company’s shares were down 1.91% as of 10.24am. Reuters
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First Published: Thu, Jan 24 2013. 10 29 AM IST
More Topics: goldman sachs | dlf | upgrades | buy | neutral |
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