L&T shares price targets raised by analysts after strong start to FY26; Stock jumps 4%

Shares of engineering and infrastructure conglomerate Larsen & Toubro Ltd. (L&T) gained as much as 4% on Wednesday, July 30, after brokerages raised their price target on the stock. The targets were raised in response to a strong first quarter performance that the company delivered.L&T has also maintained its full-year guidance for revenue growth, margins and order inflow growth.
Morgan Stanley remains “overweight” on the stock with a price target of ₹4,090. Motilal Oswal too, maintained its “buy” rating on the stock with a price target of ₹4,200, implying a potential upside of 20% from current levels.
Jefferies believes that given the order book growth, the full year revenue growth guidance of 15% year-on-year appears to be low.It also said that higher contribution from the Hydrocarbon business gives it comfort on margins having some upside potential. The strong jump in order inflow also puts L&T in a comfortable place to meet its full-year guidance.

Jefferies has a “buy” rating on L&T and revised its price target higher to ₹4,230 from ₹3,965 earlier.CLSA has an “outperform” rating on L&T with a price target of ₹4,176.

It said that the first quarter result surprised positively on three out of the four major items, with margin pick-up yet to happen.

Apart from new orders, a key positive during the quarter was a big beat on working capital and robust core execution, CLSA said.

33 analysts have coverage on L&T, of which 28 of them have a “buy” rating, four say “hold”, while one has a “sell” rating.

Shares of L&T are trading 4.3% higher on Wednesday a ₹3,646, ranking among the top gainers on the Nifty 50 index today.