Avendus has maintained its ‘Buy’ rating on Titan Company while trimming the target price to ₹4,100 from ₹4,250. The revised target indicates a potential upside of around 21% from the current market price of ₹3,402.00.
The brokerage remains optimistic about Titan’s long-term prospects, citing healthy growth momentum, strong return on equity (>20%), and a robust liquidity position as key positives supporting the valuation. The EBITDA margin is expected to remain within a stable band of 11–11.5%.
Avendus noted that management is confident of medium-term growth, particularly in the second half of the year, although near-term performance may be affected by a high base effect. The firm has adjusted its valuation model to 60x FY27E EPS, up from 58x earlier, leading to the revised price target.
Disclaimer: The views and recommendations expressed by Avendus are their own and do not represent the opinion of this publication. Investors are advised to consult a certified financial advisor before making any investment decisions.
