Brokerage have revised share price target for Tata group’s share Titan, which rose in today’s morning session.
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Titan share price target: Titan shares gained on Monday, June 3 after global brokerages revised their targets on the Tata group jewellery and watchmaker.
Titan shares rose in the 3rd June morning session, after global brokerages revised their targets. Titan stocks climbed by 2.8 percent to the day’s high of Rs 3,332.95 on NSE in early morning trades.
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Titan Share Price Target
Macquarie continued with an outperform rating on Titan—whose popular brands include Fastrack, Sonata, Octane, Tanishq, CaratLane, Zoya and EyePlus with a target of Rs 4,000 apiece.
Goldman Sachs maintained a buy call and reduced the target to Rs 3,800 apiece from Rs 3,950 earlier.
CLSA too has maintained a buy call on the Tata group stock with a reduced target of Rs 4,045 apiece.
Jefferies has retained a hold call with a target of Rs 3,600 apiece.
JP Morgan has maintained an overweight rating with a target of Rs 3,850 apiece.
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Titan Q4 results
Titan reported a 7.1 per cent year-on-year increase in net profit to Rs 786 crore for the January-March period, over revenue growth of 17 per cent. Analysts had estimated the Tata group jewellery and watch maker’s quarterly net profit at Rs 799 crore, according to a Reuters poll.
The company further declared a dividend of ₹11 per share of ₹1 each. The owner of Tanishq saw its total income of the jewellery business grow 19 per cent to Rs 8,998 crore compared to the corresponding quarter last year.
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