Jefferies sees India's L&T revenue, order growth topping guidance; keeps 'Buy' rating
BUZZ-Jefferies sees India's L&T revenue, order growth topping guidance; keeps 'Buy' rating ** Jefferies reiterates 'Buy' and maintains PT of 5,000 rupees for India's Larsen and Toubro (L&T) LART.NS
** Brokerage sees LART FY27 revenue growth of 15% which it thinks will outpace co's own guidance of 10-12% revenue growth
** Says orders from Middle East and domestic private sector clients are supporting growth, while weaker government capex spending and execution delays due to the conflict remains key risks
** L&T's FY27 order flow is tracking ahead of its guidance despite modest growth in prospect pipeline for the rest of FY27, Jefferies says, sees scope for 5% upside surprise
** Expects EBITDA to see an 18% CAGR in FY26-FY29 from 16% CAGR in FY15-FY19
** On the day, LART up 0.93%; YTD, down 5.07%
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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