📉 L&T Share Price Plunges Amid Market Pressure
11 May 2024: L&T Limited shares on the BSE are currently trading at ₹3,362.65, experiencing a 3.52% decline. The stock fell sharply to ₹3,290.00 during trading on Thursday. Of the 36 analysts covering L&T, 31 have maintained a Buy rating, three have a Hold rating, and two have issued a Sell rating.
📊 Analysts Lower Investment Targets Post Q1 Results Disappointment
Following the disappointing Q1 FY25 results, at least four analysts have revised their investment targets for L&T downwards. The company expects a 10% increase in orders for the fiscal year 2025, with top-line growth potentially reaching 15%. However, the company anticipates its margin to remain at 8.25% for FY25, below analysts’ estimates of 9-9.5%.
📈 Brokerage Firms Maintain Ratings Despite Margin Concerns
CLSA has retained its Buy rating on L&T but increased its target to ₹4,151 from ₹4,260 based on order inflow guidance and strong execution capabilities. Meanwhile, Jefferies reduced its target to ₹3,970 from ₹4,135 while maintaining a Buy rating. Morgan Stanley raised its target to ₹3,857 from ₹4,106, and Goldman Sachs increased its target to ₹3,600 from ₹3,900, both keeping their bullish outlook intact.
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