Synopsis
Morgan Stanley retained overweight and raised target price to Rs 1,816 from Rs 1,721 saying that valuations remain compelling and the company has delivered well in a tough financial year. IIFL also said the stock trades inexpensively, and retained the buy rating with a target price of Rs 1,635.
Mumbai: Brokerages have raised target prices on Larsen & Toubro citing strong March quarter results on ‘compelling’ valuations. Even as brokerages retained bullish view, the stock ended down 2 per cent at Rs 1,386.85 on Monday.
Morgan Stanley retained overweight and raised target price to Rs 1,816 from Rs 1,721 saying that valuations remain compelling and the company has delivered well in a tough financial year.
IIFL also said the stock trades
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