The revised target implies a potential upside of around 30% from the stock’s last closing level on Monday.
ALSO READ | Asian Paints shares rise 4% after two-phase price hike on rising input costsThe brokerage expects Titan to deliver strong performance in the fourth quarter of financial year 2026 (Q4FY26), with consolidated revenue growth of 43% year-on-year.
This growth is likely to be driven by robust momentum in the jewellery segment, where revenue is expected to grow 57.6% year-on-year (excluding bullion sales).The watches segment is projected to grow 12.1%, while the eyewear segment is expected to post growth of 16.9%.
However, CLSA anticipates some pressure on profitability. It expects the jewellery segment’s earnings before interest and taxes (EBIT) margin to contract to 10.4%, compared to 10.6% in the third quarter of financial year 2026 (Q3FY26) and 11.9% in Q4FY25.
This is primarily due to discounts offered by the company to drive sales growth.
Taking these factors into account, CLSA has raised its earnings per share (EPS) estimates for Titan for financial years 2026 to 2028 by 5-6%, reflecting stronger revenue growth, partly offset by slightly lower margins in the jewellery business.
Shares of Titan Company Ltd. were trading 2.8% higher at ₹3,959.75 on Tuesday. The stock has gained 16% over the past six months.
