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Last Updated : Mar 20, 2019 04:19 PM IST | Source: Moneycontrol.com

Buy Larsen and Toubro; target of Rs 1655: Sharekhan

Sharekhan is bullish on Larsen and Toubro has recommended buy rating on the stock with a target price of Rs 1655 in its research report dated March 19, 2019.

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Sharekhan's research report on Larsen and Toubro


L&T has a strong investment & cash balance apart from strong operating cash flow generation. It would therefore be able to execute the transaction without stretching its balance sheet. Deployment of free cash in a business with relatively higher return ratios would not adversely impact L&T’s earnings estimates and return ratios on a consolidated basis.


Outlook


Notwithstanding the near term challenges due to unwarranted resistance by the management of Mindtree, we see the acquisition of stake in Mindtree as a positive move by L&T and retain our Buy rating on the stock with target price of Rs1655.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



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First Published on Mar 20, 2019 04:19 pm
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