Momentum Pick: Titan shares are poised for 17% upside. Factors that are likely to support up-move
Titan Company's shares have surged by more than 19% in the past year, outperforming the 10% returns of Nifty50, and are looking set for a potential 17% upside. Analyst Rajesh Palviya suggests that the stock has strong momentum, and there is an expected breakout zone of 2,900 levels based on the formation of a "rounding bottom" pattern. Meanwhile, Sharekhan has retained a 'buy' rating on Titan and believes its revenue growth target of 20% CAGR between FY2022 and FY2027, along with consistent margin improvements, will lead to significant cash flow improvements.