Bank of America (BofA) has maintained its “Underperform” rating on Oberoi Realty, with a target price of Rs 1,175. According to BofA, while Oberoi’s Q2 sales trajectory is showing improvement from a low base, they are waiting for an uptick on new project additions to drive substantial growth.
BofA also notes that new business development has been a key focus at the current elevated valuations. The firm believes that the deployment of capital, if done in a timely manner, could help justify the stock’s rich valuation, but cautions that this remains a key risk in the near term.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are advised to seek independent financial advice before making any investment decisions. The author and the publication are not responsible for any investment losses based on the information provided.
