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Down 21% in 3 months, but HDFC Securities sees 66% upside in this property stock - check target price, rationale
Source: Livemint — Markets · 2 days ago
Summary
HDFC Securities continues to recommend buying Sobha, forecasting a target price that is more than 66% higher than its recent closing level. The brokerage cites strong presales in the first half of the year, upcoming project launches in major markets, and an anticipated improvement in profit margins as reasons for its outlook.
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From the original report
HDFC Securities maintains a buy rating on Sobha, setting a target price of ₹1,930—over 66% above its October 9 close. Record first-half presales, planned launches across key markets and expected margin improvement underpin the brokerage’s outlook.
Excerpt from Livemint — Markets.
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