Morgan Stanley has reaffirmed its overweight rating on L&T, with a target price of ₹3,857, suggesting a 13.4% upside from the current price of ₹3,402. Despite initial skepticism surrounding Q2, the company posted positive results across orders, revenue, core margin, and net working capital. L&T maintained its guidance, and core orders reached ₹1.17 trillion in H1 FY25, reflecting resilience amid reduced government spending and oil price fluctuations, which Morgan Stanley views as favorable for the stock’s outlook.
Disclaimer: This information is for informational purposes only and should not be considered financial advice. Please consult with a financial advisor for any investment decisions.
