Why Tata Consumer Shares Are Soaring Today

Shares of Tata Consumer jumped back into the green on Monday, breaking their two-session losing streak.

What Happened: Shares of the Tata Group company are upbeat today as global research firm Citi initiated its coverage on the stock with a “buy” rating. The firm has a price target of ₹1,020 on the stock, an over 20% upside from the stock’s last closing price of ₹842.70.

See Also: This Startup Wants To Help You Own A Brand New Thar For ₹1.5 Lakh

The firm noted that the company was gaining traction across segments and expects its financial performance to improve. The firm added that it expects the fast-moving consumer goods (FMCG) giant’s consolidated revenue/ EBIDTA/EPS to grow at a CAGR (compound annual growth rate) of 12%/17%/22% over FY23-FY26.

The firm noted that the target price was justified based on the company’s long-term growth prospects, its brand value and improving financials.

Price Action: Tata Consumer’s share price was up 1.24% to trade at ₹851.30 as the markets opened on Monday.

Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

You have successfully subscribed.

Read Next: Is Radico Khaitan A Good Buy? Check Share Price, Analyst Calls And Price Targets

Posted In: Price TargetInitiationAnalyst RatingsTata Consumer Products LtdTata Group