Jefferies has doubled down on its bullish stance on HDFC Bank, calling valuations “attractive” after a sharp 25% year-to-date slide in the stock and reiterating the lender as one of its top sector picks. The brokerage has a “Buy” rating on HDFC Bank with a target price of Rs 1,240, implying an upside of 64% from the previous close of Rs 756.25, and sees the bank’s American Depositary Receipt (ADR) climbing 50% to 40 dollars.