JM Financial backs Titan with Rs 4,900 target as FY30 doubling plan anchors 'Buy' call
Brokerage maintains 'Buy' on Titan at Rs 4,260, eyeing 15% upside to Rs 4,900 on 55x FY28E. Management is guiding to 2x revenue and EBIT by FY30, led by Tanishq and Mia franchise rollouts, watches premiumisation, eyecare and omnichannel. JM stays cautious on non-jewellery drag.
JM Financial maintains 'Buy' on Titan with Rs 4,900 target (15% upside). Management targets 2x revenue/EBIT growth by FY30 via jewellery (Tanishq, Mia franchise expansion), eyecare, watches premiumisation and omnichannel; brokerage cautious on non-jewellery segments.