DLF Share Price Jumps 3% After Morgan Stanley Upgarde, Sees 20% Upside

Shares of DLF gained close to 3 percent on Monday after Morgan Stanley upgraded the stock to overweight from equal-weight and has raised the target price to Rs 269 from Rs 201implying more than 20 percent upside from the current level.

The global research firm said DLF has restructured its business model and balance sheet to become a more focused development and rental company adding that the spotlight will shift towards monetisation of its Rs 10,000 crore in unsold completed inventory, leading to positive free cash flow generation and potentially, further deleveraging.

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