Goldman Sachs Upgrades DLF to 'Buy'; Ups Target

Goldman Sachs has upgraded DLF to 'buy' from 'neutral' and raised target price to 254 rupees from 250 rupees on attractive asset valuation and as it expects DLF to lower its debt from third quarter FY12, mainly driven by asset sale. "We estimate debt reduction of 50 billion rupees could enhance DLF's FY13E EPS by 15 per cent," Goldman Sachs said in a note.