Goldman Sachs has maintained a Buy rating on Larsen & Toubro (L&T), setting a target price of ₹3,960, which implies an 11.6% upside from the current market price (CMP) of ₹3,548.95. The brokerage highlighted a favorable setup for the second half of the year, with expectations of strong revenue growth driven by large hydrocarbon orders in the Middle East. These orders, won in FY24, are anticipated to move into execution from 2H FY25 onwards, providing robust support to revenue.
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