On Thursday, Jefferies, a global investment banking firm, increased its price target for Macrotech Developers Limited (LODHA:IN) shares to INR1,530 from INR1,500. The firm continues to recommend a Buy rating for the real estate company's stock.
The decision to raise the price target follows Macrotech Developers' management expressing confidence in achieving their cash flow and pre-sales targets for the year. The company's consistent progress and the positive trend in the property market are seen as key factors in driving a sustainable 20% growth in their top-line revenue.
According to Jefferies, Macrotech Developers is also expected to see an improvement in profit margins. The company's scale-up initiatives could potentially lead to mid-thirty percent margins in the coming years, signaling a stronger financial position.
The investment firm further noted the potential for additional gains from Macrotech's upcoming premium property launches in Palava, which are slated for later in the year. These launches could provide further impetus to the company's growth trajectory.
Jefferies' maintained Buy rating and the revised price target of INR1,530 are based on the firm's positive outlook on Macrotech Developers' prospects. The company's strategic execution and favorable market conditions are anticipated to contribute to its continued success.
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