Outperform on Housing Development Finance Corporation Ltd. target Rs 1470 : IDFC Securities

IDFC Securities has an Outperform call on Housing Development Finance Corporation Ltd. with a target price of Rs 1470 .The current market price of Housing Development Finance Corporation Ltd. is Rs 1273.6 Time period given by analyst is year when Housing Development Finance Corporation Ltd. price can reach defined target. IDFC maintains an outperform rating on HDFC Ltd with a 12-month target price of Rs 1,470. After many quarters of weakness, growth in core operating profit revived on the back of higher spreads said the IDFC note. High spreads, stable loan growth, higher income from surplus funds were key drivers. IDFC sees a steady set of earnings and good asset quality to continue going forward.