Technical analyst Deven Choksey of KR Choksey Shares & Securities has maintained 'buy' rating on Larsen & Toubro Limited stock with a target of Rs 2200.

According to analyst, the investors can achieve the said target within a period of 12 months.

Today, the stock of the company opened at Rs 1611 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212 and a low of Rs 1484.70 on BSE.

Current EPS & P/E ratio stood at 57.63 and 27.61 respectively.

For Oct to Dec 2010 period, Larsen & Toubro recorded a PAT of Rs 8,405.30 million as against Rs 7,588.20 million for the same period of 2009, an increase of 10.77%.

Company's total income grew by 39.16% to Rs 116,602.60 million for the period under review from Rs 83,792.50 million for the same quarter ended Dec 2009.

Engineering and construction major anticipates the pick-up of investment momentum in the financial system to coincide with the completion of its growth projects by the next 1-2 years.

It is well placed to continue revenue growth momentum in the medium term given its first-class execution capacities, presence in diverse segments of the economic system and a sizeable order book.

Moreover, Larsen & Toubro (L&T) and Kobe Steel, Japan, inked a JV deal for making internal mixers and double screw rollerhead extruders for the tyre and rubber biz for international markets, comprising India.

The JV contract was inked by J P Nayak, whole-time director and president (machinery and industrial products), L&T, and Kazuo Shigekawa, executive vice president and representative Director, Kobe Steel.