Motilal Oswal is bullish on Larsen & Toubro has recommended buy rating on the stock with a target price of Rs 1650 in its research report dated November 22, 2016.
Motilal Oswal's research report on Larsen & Toubro
We maintain Buy with SOTP based price target of INR 1,690/sh (E&C business at 22x FY18E). L&T is the best play on a capex recovery in India with a strong presence across key segments like Metro Rails, Hydrocarbons, Fertilizers, Nuclear Power, Defence, Power BTG, etc.
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