Centrum is bullish on L&T Finance has recommended buy rating on the stock with a target price of Rs 128 in its research report dated February 08, 2017.
Centrum's research report on L&T Finance
Going ahead, with continued efforts on reducing the defocused book and growing the core segments (rural, housing and wholesale), we expect 24% loan book CAGR over FY16-19E with return ratios improving to 1.78% RoA and 17.6% RoE by FY19E. We maintain our Buy rating with a target price of Rs 128 on SOTP basis (core business - 2x Sept’18 ABV and ₹22 for investment and wealth businesses).
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