Buy Larsen and Toubro; target of Rs 1820: Sharekhan
Sharekhan is bullish on Larsen and Toubro has recommended buy rating on the stock with a target price of Rs 1820 in its research report dated July 16, 2019.
July 17, 2019 / 01:16 PM IST
Sharekhan's research report on Larsen and Toubro
L&T’s annual report highlights positive outlook for the infrastructure sector with few hiccups related to bank financing. L&T’s focus areas would be digitalisation, operational efficiencies, reducing working capital, monetising of non-core assets, geographical diversification and inorganic growth. Strong order backlog, expected order intake from H2FY2020E, OPM improvement, asset monetisation and rising free cash flow are expected to aid in RoE enhancement, which lies at the core of its five-year strategic plan ‘LAKSHYA’.
We maintain our Buy rating on Larsen and Toubro (L&T) with an unchanged PT of Rs. 1,820.
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