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 May 10, 2019.
Sharekhan's research report on Larsen and Toubro
L&T reported inline results during Q4FY2019, backed by strong execution margin miss on operating margins. Order inflow has been strong even in a tough macro environment, taking the total order backlog to Rs. 2.9 lakh crore (up 12% y-o-y), providing revenue visibility of 2.1 years on TTM basis.
We maintain our Buy rating on Larsen & Toubro (L&T) with an unchanged PT of Rs. 1,655 factoring healthy execution on a strong order backlog.
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