Jefferies has downgraded L&T to buy from Rs 4,715 earlier with a target price of Rs 4,500. The share of global engineering and construction companies investing in West Asia, including L&T, has declined between 10-24% since the start of the Iran-US-Israel conflict, analysts said. 37% of L&T’s order book is from the region, of which Saudi Arabia’s share is more than 75%. No work for a month is likely to impact FY26 earnings per share by 6-8%. Assuming the situation in West Asia normalizes over time, L&T should recoup most of its share price losses amid order flow growth, margin stability and a five-year strategic plan to be unveiled in May 2026.BofA Securities has buy rating on AB Capital with a target price of Rs 380. Analysts said the company is seeing strong growth rates in lending, with MSME expansion being supported by government measures, while retail penetration in the housing finance sector is improving. The company’s focus is on market share. In AMCs, equity market share losses have seen a decline, and in insurance, there has been strong premium growth. The company targets 2.5%/2-2.2% return on assets (ROA) for the NBFC/HFC business in the coming few quarters, and its delivery could support valuation re-rating.Goldman Sachs has advised Sun Pharmaceuticals to sell with a target price of Rs 1,550. Analysts attended the company’s corporate day. He said innovative drugs remain a key growth driver for the company. Emerging Markets and Rest of the World (RoW) continued to outperform. In India, the company aspires to grow in line with or slightly ahead of the market, although current market share gains (30bps in Q3) may be modest. The company has minimal exposure to West Asian markets, while its operations in Israel continue unabated despite ongoing conflicts. On its M&A strategy, the focus remains on profitable growth, with innovative medicines being the top priority, followed by emerging market assets. No clear size limit, but financial discipline will be maintained. Upon GLP-1 launch, the Company’s management expects significant competition and pricing uncertainty, and market dynamics will determine the final price. No guidance on margin impact.Kotak Institutional Equities has Add rating on Bajaj Finance with a target price of Rs 1,100. Analysts said investors’ short-sighted focus on near-term trends and credit metrics risks missing the structural transformation underway at Bajaj Finance, where Fin-AI is already moving from experimentation to measurable business outcomes. This reflects the widespread ‘quarterly trap’, where investors overestimate near-term trends while downplaying more sustainable changes in business models. Analysts remain bullish on Bajaj Finance’s ability to maintain high growth and returns on equity despite a large balance sheet.Motilal Oswal Securities has maintained its neutral rating on Havells India with a target price of Rs 1,490. Analysts said short-term moderation and a medium-term recovery is expected. There is strong demand in the cable and wire segment with near-term margin pressure. In the Lloyd division, inventory normalization is underway but demand recovery is awaited. In its electrical consumer durables, switchgear and lighting divisions, pricing activities are supporting margins amid mixed demand trends.(Disclaimer: The recommendations and views given by experts on the stock market, other asset classes or personal finance management are their own. These opinions do not represent the views of The Times of India)
