DLF down to neutral by Citi
DLF has been downgraded by Citi from “buy” to “neutral” as target price has come down from Rs 266 to Rs 218.
Currently, DLF shares have come down by 1.3 per cent to Rs 186.20.
Citi group has added that there will be a wait for a pick-up in execution, sales and margins to become more constructive about India’s biggest property stock.
The investment bank also stated that they see brighter spots for broader property sector as prices in cities like Mumbai will recoil back.
As for now, top picks in sector are Phoenix Mills and Prestige Estates.
To read more real estate news:
Sensex up on hopes of financial measures
DLF realty is focusing on luxury homes to reduce debt
Source: The Times of India
Bank, Citi, Citi group, Citibank, DLF, DLF India, investment bank, Mumbai, Phoenix Mills, Prestige, Prestige Estates, Property sector, property stock, Real Estate Sector
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