Goldman cuts DLF to `neutral` from `buy`

Goldman cuts DLF to 'neutral' from 'buy'

Last Updated: Thu, Oct 11, 2012 04:38 hrs
A man rides pass an advertisement of Indian property developer DLF Ltd. in Gurgaon

Goldman Sachs downgraded DLF to 'neutral' from 'buy', saying slower approvals could result in fewer project launches, while cutting its pre-sale estimates for India's largest property developer.

Goldman also removed DLF from its Asia-Pacific buy list and cut its 12-month target price to 224 rupees from 257 rupees.

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