Sharekhan is bullish on Titan Company has recommended buy rating on the stock with a target price of Rs 1375 in its research report dated May 31, 2019.
Sharekhan's research report on Titan Company
Titan registered strong performance in FY2019 with revenue and PAT growing by 23% and 35%, respectively, with strong double-digit growth in key segments of watches, jewellery and eyewear. FY2020 will be another strong fiscal as stable government at the centre and likely implementation of buoyant economic policies would drive discretionary consumption (especially in H2FY2020). Jewellery business is expected to grow by 18-19%; eyewear and watches to grow by 14-15% over the next two years.
Increased earnings estimates for FY2020/FY2021 by 3%/6%, respectively; Maintain Buy with a revised PT of Rs. 1,375.
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