Sharekhan is bullish on Larsen and Toubro has recommended buy rating on the stock with a target price of Rs 1765 in its research report dated October 23, 2019.
Sharekhan's research report on Larsen and Toubro
L&T’s Q2FY2020 results were operationally in-line with estimates driven by Infrastructure, Hydrocarbon and IT&TS (boosted by Mindtree consolidation). Management retained order inflow and revenue guidance for FY2020 backed by strong opening order backlog and healthy order prospects for H2FY2020. Key challenges of lower credit growth in SME, higher working capital requirement and sustained weakness in private industrial capex remains.
Outlook
We maintain our Buy rating on Larsen and Toubro (L&T) with an unchanged PT of Rs. 1,765 owing to its strong order backlog, healthy order prospects and diversified presence.
For all recommendations report, click here
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