JP Morgan bullish on DLF’s new Gurgaon launch, stock up

JP Morgan has upgraded property developer DLF  to “overweight” from “neutral” and raised its target price to Rs 300 from Rs 220.

The investment banker said DLF stands to benefit from debt reduction and the launch of luxury projects in Gurgaon.

JP Morgan said DLF shares will also gain on additional traction in asset sales and expected interest rate cuts.

DLF shares are up 3.74 percent at Rs 232.15 .