Limited upside left for L&T - Brokerage recommendations post Q2FY11 numbers
October 20th, 2010
L&T has come up with its 2QFY11 results and the numbers are above street estimates. L&T is undoubtedly one of the most favorite stock amongst the FIIs, MFs and retail investors. Needless to say, the script jumped back towards the positive territories soon after the numbers came out. Brokerage firms have updated their recommendations on the script and most of them feel that there is limited upside left in the script.
Motilal Oswal in its October 18, 2010 gave a Neutral rating to the numbers but gave a Buy recommendation to the script with a target of Rs. 2356 based on SOTP valuations.
Angel Broking says that the considering the stock is trading at 28.7 P/E multiples, there will be limited upside left. It gave a Neutral rating and a target of Rs. 2024 based on SOTP.
Prabhudas Liladhar says the revenues are positive surprise and gave an Accumulate rating for the script. They have put a target of Rs. 2100.
Emkay maintained its Accumulate rating and gave a target of Rs. 2129.
Entry Filed under: Equity Markets, Infrastructure
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