Larsen & Toubro (L&T) shares rallied 4 percent to Rs 914.70 on BSE in intra-day trade on Friday after global brokerage Jefferies maintained a 'buy' rating on the stock with a SOTP price target of Rs 1,280 per share. L&T has underperformed the market by dropping 11.5 percent in the past seven weeks, compared to a 6 percent increase in the S&P BSE Sensex. An early turnaround in the macro investment cycle should see a sharp pick-up in the order flow and valuations of the firm, analysts at Jeffer...