The shares of Larsen & Toubro (L&T) gained nearly 3 percent on December 12 after Goldman Sachs issued a bullish call for the stock, upgrading its rating to 'Buy' and increasing its target price.
The shares of the company rose to Rs 4,114 apiece in the morning trading hours of Friday, extending gains for the second consecutive session. The stock is currently nearing its 52-week high level of Rs 4,140 per share, which it had hit in November this year.
Goldman Sachs upgraded its rating on L&T shares to 'Buy' from 'Hold', and increased its target price to Rs 5,000 per share from Rs 3,730 per share. The latest target price implies an upside potential of nearly 25 percent from the stock's previous closing price of Rs 4,003.9 per share.
The international brokerage expects Larsen & Toubro to benefit from strong growth in defense, green hydrogen and nuclear power segments. It expects revenue and profit to compound at mid-teens percentage over the next five years.
L&T's order backlog and improved domestic capex confidence is driving earnings visibility across near, medium and long-term horizons, Goldman Sachs further said.
Engineering major Larsen & Toubro (L&T) on October 29 reported a 16 percent year-on-year (YoY) rise in consolidated net profit at Rs 3,926 crore for the July-September quarter of the financial year 2026, thus missing estimates marginally. Its net profit in the year-ago period was Rs 3,395 crore.
Its revenue from operations rose 10 percent YoY to Rs 67,984 crore in Q2 FY26, as against Rs 61,555 crore in Q2 FY25.
Larsen & Toubro shares have gained around 13 percent in the past six months, and are up over 11 percent in 2025 so far. The shares of the company rose more than 5 percent in the past one year.
The stock’s P/E ratio currently stands at over 30.
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(With inputs from Reuters)Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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