Jefferies keeps its “Buy” rating on L&T and projects 14% upside and significant growth.
Larsen & Toubro (L&T) is still rated as a buy by Jefferies, according to a recent report. The company has modified its price target from Rs 4,200 to Rs 4,135 per share. Based on core Engineering & Construction (E&C) at 18x FY26E EV/EBITDA, the valuation takes into account consolidated PB at 5.4x and PE FY26E…