Goldman Sachs (GS) has maintained a ‘Buy’ rating on Titan Company Limited with a target price of ₹3,650/share, reflecting a potential downside of 4.9% from the current market price (CMP) of ₹3,476.50.
Key Highlights:
- Jewellery Segment: Titan’s jewellery business delivered a robust 26% year-on-year (YoY) growth for Q3FY25. Strong studded jewellery growth of ~21% YoY could alleviate investor concerns over the studded category, including Caratlane sales, which also performed well.
- Eyewear and Watches:
- Eyewear sales growth picked up significantly, increasing by 17% YoY in Q3FY25.
- The watches segment maintained its strong growth trajectory, further bolstering the company’s diversified revenue streams.
Goldman Sachs believes Titan’s diversified growth across jewellery, eyewear, and watches demonstrates its resilience and ability to navigate challenges effectively, making it a key player in the consumer discretionary sector.
Disclaimer: The above analysis is based on inputs provided and is for informational purposes only. It does not constitute financial advice. Readers are advised to consult their financial advisors before making any investment decisions.
