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Standout Brokerage Report: Credit Suisse upgrades L&T Finance to Outperform; raises target

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Credit Suisse has upgraded the rating on L&T Finance Holdings to Outperform from Underperform and has raised the target price to Rs 82 from Rs 52 earlier.

Credit Suisse has upgraded the rating on L&T Finance Holdings to Outperform from Underperform and has raised the target price to Rs 82 from Rs 52 earlier.
The global brokerage said that the company’s collection efficiency has improved to 95 percent in Q2 and that was largely from the retail side.
It estimates that the company has already provided for 75 percent of retail delinquent loans and expects credit costs to normalise from FY22.
Credit Suisse also expects L&T Finance Holdings to raise fund either by equity or by stake sales to have a further capital buffer.
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