Sharekhan is bullish on Larsen and Toubro has recommended buy rating on the stock with a target price of Rs 1250 in its research report dated June 05, 2020.
Sharekhan's research report on Larsen and Toubro
L&T’s Q4FY2020 results remained steady with inline revenue, operating profit margin (OPM), and steady earnings despite uncertainties. Management has refrained from providing any revenue or order inflow guidance as it is too early to quantify the same and highlighted that the situation is expected to improve in the latter part of FY2020. Order book remains strong and diversified international order book provides cushion despite lower new order prospects from the Middle East.
Outlook
We maintain our Buy rating on Larsen and Toubro (L&T) with an unchanged PT of Rs. 1,250, considering it is well poised to ride the current uncertainties and bounce back in FY2022 due to its strong business fundamentals.
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