BNP PARIBAS ON L&T
Maintains Outperform, cuts target price to ₹4,435 from ₹4,600
Retains as top pick
Concerns over oil-linked slowdown in GCC tendering are overblown
Deep dive suggests CY25 to be stronger than CY24
CY25 starts strong with QatarEnergy order exceeding USD 4.0bn
Saudi may open real estate for non-GCC residents, boosting private capex
Despite oil price concerns, GCC capex in CY24 at a record USD 270bn+
Core FY26/27 EBITDA estimates remain largely intact, core P/E at 19x FY27E EPS
Target price cut to ₹4,435 to factor in LTIM share price decline
Maintains Outperform, cuts target price to ₹4,435 from ₹4,600
Retains as top pick
Concerns over oil-linked slowdown in GCC tendering are overblown
Deep dive suggests CY25 to be stronger than CY24
CY25 starts strong with QatarEnergy order exceeding USD 4.0bn
Saudi may open real estate for non-GCC residents, boosting private capex
Despite oil price concerns, GCC capex in CY24 at a record USD 270bn+
Core FY26/27 EBITDA estimates remain largely intact, core P/E at 19x FY27E EPS
Target price cut to ₹4,435 to factor in LTIM share price decline
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