UBS has reiterated its “Neutral” call on Larsen & Toubro (L&T), with a target price of ₹4,000, indicating a 14.6% upside from the current market price of ₹3,490.05.
The brokerage highlighted a lower risk for Middle East hydrocarbon capex, with a near-term pipeline estimated at $10-12 billion. However, it noted that competition in the infrastructure segment is more intense than in hydrocarbons, presenting some challenges.
UBS emphasized that domestic infrastructure spending and successful execution in the Middle East will remain key drivers for L&T’s growth trajectory.
Disclaimer: This report is for informational purposes only and should not be considered investment advice. Please consult a financial advisor before making investment decisions.
