CMP: Rs 155.05
Target price: Rs 124 Goldman Sachs has maintained its ‘sell’ rating on DLF while reiterating its cautious outlook on the real estate sector. According to the investment bank, New Delhi-based realty major’s third-quarter results have confirmed a significant slowdown in property sales and construction activity in India. “We push back our medium-term development pipeline projections and lower our property price assumptions,” Goldman Sachs said in a report. The investment bank has lowered its earnings per share (EPS) estimates for FY2009-FY2011 by 29-62% and cut its 12-month target price to Rs 124 from Rs 203.
|
| Subscribe to latestequityresearchreports |
| Visit this group |
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.