larsen & toubro (citi) Strong FY12E Guidance - But It Could Be Quite a Stretch

4Q11 PAT - 7% below expectations; Inflows in line - But miss guidance by 8%; Strong FY12E sales and inflow guidance; We assume inflow growth of 15%; Sales guidance - A bigger stretch; Maintain Hold (2L) - Target price cut to Rs1745
Date Rating Target Price Recommendation Price Broker house
20 May 2011 hold 1745 (from 1824) 1594 citi Report

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