Macquarie has maintained an ‘Outperform’ rating on Titan Company Limited, raising the target price to ₹4,150/share, reflecting a potential upside of 19.4% from the current market price (CMP) of ₹3,476.50.
Key Highlights:
- Jewellery Segment: The pre-Q3FY25 update highlights strong demand, with studded jewellery sales growing 21% year-on-year, despite pressures in the solitaire segment. This moderates concerns regarding lab-grown diamonds.
- Eyecare Segment: The eyecare business continues to demonstrate robust growth, contributing to the company’s overall strong performance.
- Earnings Upgrade: Macquarie has raised its FY25/26/27 EPS estimates by 4% each, considering the positive pre-Q3 update.
Macquarie remains optimistic about Titan’s resilience and its ability to sustain growth across key business segments.
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.
