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Last Updated : Mar 15, 2019 02:12 PM IST | Source: Moneycontrol.com

Prestige Estates Projects climbs 4% as Deutsche Bank gives it a buy

The global brokerage house has come out with a price target of Rs 260, implying 23 percent potential upside from Thursday's closing levels.

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Prestige Estates Projects shares gained more than 4 percent intraday on March 15 after Deutsche Bank initiated coverage with a buy call on the stock, citing attractive valuations.

The global brokerage house has come out with a price target of Rs 260, implying 23 percent potential upside from closing levels on March 14

The stock was quoting at Rs 216.30, up Rs 5.05, or 2.39 percent on the BSE, at 13:37 hours IST.

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Commercial business gained relative significance and cyclical momentum remained supportive, the brokerage said, adding residential launch momentum has been improving and value mix has been drifting towards better cash flows segment.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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First Published on Mar 15, 2019 02:07 pm
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