Jefferies Bullish on This Large-Cap Stock; Raises Target Price by 30%

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Jefferies Bullish on This Large-Cap Stock; Raises Target Price by 30%

By Malvika Gurung

Investing.com -- A total of 1.37 lakh equity shares of the agrochemical company UPL (NS: UPLL ) Limited was acquired by its promoter company Uniphos Enterprises Ltd (NS: UNPH ) through open market transactions, as per bulk deals data. The stock was in focus on November 25 and was last seen trading 0.7% higher at Rs 726.45/share.

Uniphos Enterprises purchased 68,000 shares of the company on November 22, followed by another 69,000 shares the next day, increasing its shareholding in UPL from 5.15% to 5.17% now.

The American research firm Jefferies Financial Group Inc (NYSE: JEF ) is bullish on the large-cap company and has initiated a ‘Buy’ call on the stock with a target price of Rs 945/share, an upside of 30% from its market price.

The brokerage firm lists factors like the company’s focus on incentivising margin growth solutions, and robust pricing, as key catalysts to support its outlook on the stock.

It has estimated UPL’s sales to grow by 9% and profit by 25% over the next two years.

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