Hold Larsen & Toubro, target Rs 1621: Indiabulls Securities

Published on Sat, Jul 04, 2009 at 11:48 |  Source : Moneycontrol.com

Updated at Sat, Jul 04, 2009 at 13:47  

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Hold Larsen & Toubro, target Rs 1621: Indiabulls Securities

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Indiabulls Securities has recommended a hold rating on Larsen and Toubro , with price target of Rs 1621, in its report dated June 30, 2009.

"Larsen & Toubro is currently trading at a forward (FY10) P/E of 28.8x. Our fair value estimate of Rs 1,621, based on the Sum-of-the-Parts (SOTP) methodology, factors in all the major positives and thus, provides limited upside potential from the current market price. Thus, we change our rating to Hold," says Indiabulls Securities' report.

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To read the full report click on the attachment.........

  

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