Titan Company rallies 2% after UBS raises price target

UBS raised price target to Rs 1,600 from Rs 1,250 per share earlier, implying 27 percent potential upside from current levels.

Shares of Titan Company rallied 2 percent intraday on June 19 after global brokerage UBS raised price target on the stock by 28 percent.


"Company's aggressive growth strategy & flawless execution keep us bullish on the stock," the research firm reasoned.

UBS raised price target to Rs 1,600 from Rs 1,250 per share earlier, implying 28 percent potential upside from current levels.

"The upside fair value for the stock is Rs 1,800 per share while downside fair value is Rs 900," it said.

Titan Company had reported robust top-line growth across segments in the March quarter. Profit grew by 13 percent year-on-year to Rs 348.3 crore and total operating income rose 19 percent to Rs 4,888.8 crore in Q4FY18.

The stock has seen a 55 percent upside in the last nine months. At 09:35 hours, it was quoting at Rs 1,274.75, up to Rs 16.65, or 1.32 percent on the BSE.

Disclaimer: The views and investment tips expressed by the brokerage on moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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