Jefferies reduces target price for LIC Housing to Rs 700, stock up 3%

The shares of LIC Housing Finance today surged 3% to an intraday high of Rs 573.65 on the BSE after the foreign brokerage firm Jefferies reaffirmed its ‘buy’ rating on the stock, albeit with a revised target price of Rs 700 (down from Rs 795 earlier), indicating a headroom of 25% growth…