1. to put up (a notice, sign, etc.); to hang out (e.g. a banner); to fly (e.g. a flag); to hoist; to raise; to display
ようやく、掲げられた旗も見えるようになった。At last, we could see the flags that had been put up, too.
2. to hold up high; to raise overhead
彼女はそう言って右手を掲げる。She said that and raised her right hand.
3. to tout (a principle, plan, etc.); to herald; to hold up (an ideal); to parade (e.g. a slogan)
掲げている思想は偽りではないのか？Is the ideology you are touting not a lie?
4. to publish; to print; to carry (e.g. an article)
5. to tuck up (e.g. sleeves); to roll up
6. to stoke (a fire); to fan (a flame)