DLF --> target of Rs 1108: CLSA
As per CLSA's research report on December 4, 2007, it is bullish on DLF and has recommended a 'buy' rating on the stock with a 12-month target of Rs 1108, which implies a 17% upside. DLFs management is clearly not complacent with managing the booming property development business alone. The company is already sowing the seeds for future value creation. The company has adopted a relatively low-risk business model of forming a JV with global leaders for new businesses viz. entering the financial services, infrastructure development and hospitality segment. While hospitality segment could add USD 1.5 billion to NAV, we believe that the other segments will drive further value creation for shareholders in the long-term."
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