Despite reporting a lower-than- estimated Q4FY23 earnings on Wednesday, top foreign and domestic brokerages like Jefferies, Nuvama, Emkay have retained their positive views on Larsen & Toubro (L&T) stock. While Jefferies, Nuvama and B&K Securities have maintained a ‘buy’ on the counter, Emkay has downgraded the engineering behemoth to ‘hold’. Jefferies and Nuvama see a potential upside of up to 16% in the stock.