LT 3500 CE Recommended Above 95, SL 86. Target 105. The L&T's stock price was in focus today after JP Morgan gave an 'overweight' rating and set a target price of Rs 4,360. JP Morgan believes L&T is well-positioned for growth in India and the Middle East. The company reported strong earnings growth and an increase in revenue in Q1 FY24. The global brokerage firm believes that the stock seems ideally placed to navigate the capex cycle in India and the Middle East. LarsenandToubro