JP Morgan cuts L&T, BHEL to underweight
JP Morgan cuts L&T, BHEL to underweight
Mumbai: JP Morgan downgraded Larsen and Toubro Ltd to “underweight" from “overweight" and cut its target price to ₹ 1,150 from ₹ 1,550, citing inflow growth of 8.5% against management’s guidance of 15-20%.
L&T was trading up 0.4% while BHEL was down 0.7% in a slightly weak Indian market.
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