Prestige Estates shares rally 9% as Jefferies upgrades stock to buy, raises target price to Rs 1,600

Prestige Estates surged 9.3% to Rs 1,489.95 after Jefferies upgraded it to ‘buy’ with a Rs 1,600 target. The brokerage cited upcoming launches worth Rs 300 billion and strong leasing growth. Despite a weak Q3, Prestige expects pre-sales recovery, boosting long-term prospects.

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