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Last Updated : Apr 10, 2013 11:12 AM IST | Source: Moneycontrol.com

Accumulate L&T; target of Rs 1700: Emkay

Emkay Global Financial Services is bullish on Larsen and Toubro (L&T) and has recommended accumulate rating on the stock with a target of Rs 1700 in its April 8, 2013 research report

 
 
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Emkay Global Financial Services is bullish on Larsen and Toubro (L&T) and has recommended accumulate rating on the stock with a target of Rs 1700 in its April 8, 2013 research report.
 
"Challenging business conditions in L&T's core operations and stagnant levels of activity. The company's investments are in the incubation stage Market share gains are imperative for securing order inflows. Standalone revenues and APAT growth to moderate to a CAGR of 12 percent and 11 percent, respectively, during FY13-15E Transformation from an EPC firm to an infrastructure and finance company has resulted in balance sheet expansion; de-risking has added risks Looking beyond near-term risks and 'No' froth in valuations. But upside capped at Rs1,700/share. Maintain ACCUMULATE," says Emkay Global Financial Services research report.


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First Published on Apr 10, 2013 11:12 am
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