New Delhi, Oct. 14 -- Pearl Global Industries, one of the country's largest listed garment exporters, has been buzzing off late, not because of any major company updates, but because the stock has been receiving target price upgrades from domestic brokerage houses.

JM Financial has joined other brokerages in making a bullish call on the company's growth prospects. In its recent report, the brokerage has initiated coverage on the stock with a Buy rating and a target price of Rs.1,610. The target price implies an upside potential of 24% from the stock's latest closing price of Rs.1,302.

JM Financial believes Pearl Global Industries' diversified five-country manufacturing network allows it to optimize production based on tariffs, customer ...