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Jefferies has upgraded Welspun Living from Hold to Buy and more than doubled its price target, while initiating coverage on Raymond Lifestyle with a Buy rating, noting that free-trade agreements and the China+1 sourcing shift will drive a multi-year growth cycle for Indian textile exporters. The brokerage raised its target price for Welspun Living by 108%, from Rs 125 to Rs 260, implying an upside potential of 25%. It initiated coverage on Raymond Lifestyle with a target of Rs 900, indicating a potential gain of 29%. FTAs to improve India’s competitiveness Jefferies said India’s textile industry was entering a structural…
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