IDFC gains on CLSA, Deutsche Bank upgrades
Shares in Infrastructure Development Finance Company (IDFC) rose 4.6% after both CLSA and Deutsche Bank upgrade the stock
Shares in Infrastructure Development Finance Company (IDFC)
CLSA raises IDFC to "buy" from "outperform" and keeps its 12-month target price at Rs 150 , citing "attractive" valuations and positives from its recent earnings, including an uptick in loan growth and more stable asset quality.
Deutsche Bank upgrades IDFC to "buy" from "hold" and keeps price target at Rs 140, also citing valuations, and adding net spreads will expand due to a likely decline in funding costs in the second half of fiscal 2013.