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Investing.com - Jefferies has increased its price target on Titan Co Ltd (NS:TTAN) to INR3,800.00 from INR3,600.00 while maintaining a Hold rating on the stock.
The revision follows Titan’s report of strong growth across its jewelry and watches brands, accompanied by margin expansion. The company’s adjusted EBITDA exceeded forecasts, though Jefferies noted that part of the margin improvement was bolstered by one-off factors.
According to Jefferies, most of these one-off gains will reverse in subsequent quarters. The firm highlighted that high gold prices remain a challenge for Titan’s jewelry business, which has impacted buyer growth.
Despite fewer buyers, Titan has managed to increase ticket sizes, which has helped overall performance. The company has maintained its market share in the jewelry segment after making gains in fiscal year 2025.
Jefferies’ updated price target represents a moderate increase of 5.6% from its previous valuation, reflecting the firm’s balanced outlook on Titan’s near-term prospects amid these mixed operational indicators.
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