Friday, October 18, 2013

CREDIT SUISSE DOWN GRADES L&T, WE CONTIUES TO BE BULLISH ON L&T

Larsen and Toubro shares took a beating yesterday after Credit Suisse downgraded the stock to under-perform from neutral, saying an increasing share of orders from West Asia will narrow operating margin.

L&T’s shares lost 3.73% to Rs837.25,while the benchmark Sensex lost just 0.64% to 20,415.51 points.
Credit Suisse expects L&T to cut its guidance of flat margins for the 2014 fiscal.

However we at First Choice IPO do not think so. We are bullish on the stock in the medium to long term and recommend to accumulate at current level.

1 comment:

  1. who is we? I think only one person operates this blog. Is this another way of avoiding responsibility?

    ReplyDelete