Mumbai: Titan shares rose 3.1% on Monday to emerge as the top gainer on the Nifty after the jewellery-to-watches maker reported June-quarter earnings that beat analyst estimates, prompting several brokerages to raise their price targets on the stock.Brokerages largely remained bullish on Titan's prospects following the results, with Citi, CLSA, HSBC, Morgan Stanley, Nomura, UBS and Goldman Sachs among those raising their target prices.ET BureauRead Also: US Stocks: Nasdaq ends down as expectations of Hormuz deal fadeAccording to Bloomberg data compiled by ET, Titan has 30 'buy' ratings, five 'hold' calls and two 'sell' recommendations. The consensus 12-month target price stands at ₹5,387.08, implying an upside of approximately 5.7% from Monday's closing price of ₹5,098.20.
Titan's Q1 dials up street optimism
Titan shares surged, topping Nifty gains after stellar June-quarter earnings surpassed expectations. This positive performance has prompted multiple brokerages to revise their price targets upwards, signaling strong investor confidence. With a predominantly bullish outlook from analysts, Titan's stock appears poised for further appreciation.
TL;DRAI
Titan beat Q1 estimates with shares rising 3.1%; Citi, CLSA, HSBC, Morgan Stanley, Nomura, UBS, Goldman Sachs raised price targets. 30-to-2 buy ratio and 5.7% upside reflect durable consumer spending, supporting B2B and enterprise IT budget resilience.
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