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Brokerage Opinion on Shares of Titan
Brokerage house Motilal Oswal has recommended Buy on the shares of Titan Company with a target price of Rs 3325. The stock is currently trading around Rs.3077. The brokerage says the company’s earnings and growth position are strong. The company’s compounded earnings have grown at an average of 20 percent over a long period. The company’s business in the jewelery segment has received a good response and its market share is continuously increasing.
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Opinion of global brokerage firms
- Brokerage house Morgan Stanley has assigned an Overweight rating with a price target of 3207 on Titan Company shares. The brokerage says that the company’s business will get a boost during the upcoming festive season.
- Brokerage house Goldman Sachs has also given a buy recommendation on the stock and has given a target of Rs 3175. Brokerages say jewelery sales grew better than expected. The four-year compound annual growth rate for this segment is 23%.
- Brokerage house Religier Broking has also given a buy recommendation on the stock and has assigned a price target of Rs 3147.
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Target 25 international stores
Titan said the company is targeting to open 25 international stores by the end of the 2023-2044 financial year. Tanishq has increased its number of international Tanishq stores from two to 7 in FY 2022-23. The company has received positive response from the international market.
Apart from jewellery, the Tata group company opened its first international store for eyewear brand ‘Titan Eye Plus’ in Dubai last year. The company plans to open more stores. The company’s jewelery segment grew by 21% year-on-year and watches and wearables grew by 13% year-on-year.
