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

Shares of Prestige Estates Projects surged 9.3% on Saturday to Rs 1,489.95 on the BSE after brokerage Jefferies upgraded the stock to a ‘buy’ rating. The brokerage also raised its target price from Rs 1,420 to Rs 1,600, implying a potential 7.4% upside from current levels.

Jefferies cited an…