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United Spirits shares jump 2% after JPMorgan upgrades stock to 'Overweight', raises target price

United Spirits share price: The brokerage also hiked its target price for the stock to Rs 1,760 per share, implying an upside potential of over 11.5% from the stock's current market price of Rs 1,578 per share.

June 03, 2025 / 18:11 IST
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United Spirits

United Spirits shares jumped nearly 2 percent on June 3 after JPMorgan Chase issued a bullish call for the stock. The shares of the company closed at Rs 1,578 apiece on NSE.

JPMorgan upgraded its rating on the shares of the alcoholic beverage-maker to 'Overweight' from its earlier 'Neutral' rating. The brokerage also hiked its target price for the stock to Rs 1,760 per share from the earlier estimate of Rs 1,415 per share. The latest target price implies an upside potential of over 11.5 percent from the stock's current market price of Rs 1,578 per share.

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The brokerage also increased its EBITDA estimates by 3 percent for FY26, and 7 percent for FY27, according to the note cited by CNBC Awaaz.

JPMorgan said that the stock looks lucrative, especially after its earnings announcement. The brokerage said that the company's 'Prestige and above' segment looks very lucrative for growth prospects. Additionally, favourable regulatory outcomes in several states like Andhra Pradesh, Uttar Pradesh, Madhya Pradesh and Jharkhand have further boosted the stock, it noted.