Overweight Larsen & Toubro Ltd., target Rs 1806.0 : Morgan Stanley

Morgan Stanley has Overweight call on Larsen & Toubro Ltd. with a target price of Rs 1806.0. The current market price of Larsen & Toubro Ltd. is 1504.35. Time period given by analyst is year, when Larsen & Toubro Ltd. price can reach defined target. The global investment bank adjusted its estimates for the INDAS impact on results which were reasonable. The company lowered its revenue forecasts down 1-3 per cent and F17-18 EPS down to 5-7 per cent, but the increase in market multiple will trigger upside potential.