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Last Updated : Jan 07, 2020 02:19 PM IST | Source: Moneycontrol.com

Buy Titan Company target of Rs 1445: Sharekhan

Sharekhan is bullish on Titan Company has recommended buy rating on the stock with a target price of Rs 1445 in its research report dated January 06, 2019.

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Sharekhan's research report on Titan Company


The jewellery business’ revenue growth improved sequentially to 11% y-o-y amid the wedding and festive season, despite an increase in gold prices. Other key businesses such as watches and eyewear reported a muted quarter affected by overall slowdown in discretionary spending and nation-wide protests in the latter half of December. We have broadly maintained our earnings estimates for FY2020E and FY2021E.


Outlook


Stock has corrected by ~14%, factoring near-term growth headwinds; we maintain Buy with an unchanged PT of Rs. 1,445, as the long-term growth story remains intact.


For all recommendations report, click here


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First Published on Jan 7, 2020 02:19 pm
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