Brokerage Firms Update Recommendations on Key Stocks
Major brokerage houses have released fresh research reports and updated their investment recommendations on several prominent Indian companies, including Amber Enterprises, Titan Company, Eicher Motors, Star Cement, and Lemon Tree Hotels. These reports provide detailed analysis, revised target prices, and insights into future growth prospects and potential risks.
Amber Enterprises: Buy Rating with Strong Growth Outlook
Yes Securities has issued a buy recommendation on Amber Enterprises, setting a target price of Rs 8,962. Analysts highlight that the company has begun to witness strong market traction following significant enhancements in its operational capabilities. The firm is now strategically focusing on value addition initiatives that are expected to drive both growth and margin expansion in the coming periods.
Notably, Amber Enterprises' railways business revenue is projected to double over the next two financial years. Considering the robust performance recorded from April to December 2025 and continued excellence in execution, analysts have increased their earnings estimates for fiscal years 2027 and 2028, reflecting confidence in the company's sustained momentum.
Titan Company: Add Rating with Margin Monitoring
ICICI Securities has maintained its add rating on Titan Company, with a target price of Rs 4,500. Analysts note that Titan's strong jewellery sales growth during the October-December 2025 quarter, which corresponds to Q3 of FY26, occurred despite an inflated gold price environment. This growth was primarily driven by higher ticket sizes, revealing a relatively lower volume elasticity that suggests resilient underlying consumer demand.
However, analysts emphasize that sustaining margins within the normative range of 11% to 11.5% will be a key monitorable factor. High gold prices have led to margin dilution in the studded jewellery segment, and increased coin sales could continue to exert pressure on overall jewellery margins. On a positive note, CaratLane continues to scale up effectively while improving profitability. The watches and eyecare divisions witnessed strong sales growth, and emerging businesses maintained demand traction. Analysts remain aware that continued rises in gold prices could potentially impact consumer behavior and the business model.
Eicher Motors: Sell Rating Amid Normalized Demand
Motilal Oswal Securities has reiterated its sell rating on Eicher Motors, with a target price of Rs 6,313. Analysts point out that the company's robust domestic volume growth for Royal Enfield in FY26 so far has largely been a function of benefits derived from the GST rate cut. However, demand appears to have normalized following an initial surge in pent-up demand.
Furthermore, given that management continues to prioritize growth over profitability, margin upside is likely to be capped from this point onward. With expectations of slower earnings growth ahead, analysts see no compelling reason for the stock to trade at premium valuations, justifying the sell recommendation.
Star Cement: Buy Rating with Regional Expansion
Emkay Global Financial Services has assigned a buy rating on Star Cement, raising the target price to Rs 300 from the previous Rs 280. Analysts report that the company's consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) exceeded the brokerage's estimates due to higher-than-expected realizations.
Analysts appreciate Star Cement's strong regional dominance and its ongoing efforts to extend its leadership position over peers in the northeastern market. Additionally, the company's entry into Rajasthan is likely to help it shed the tag of a regional player and establish its brand presence in North India as well, enhancing its growth trajectory.
Lemon Tree Hotels: Accumulate Rating with Growth Drivers
Elara Securities has issued an accumulate rating on Lemon Tree Hotels, with a target price of Rs 157. Analysts state that the company reported operational performance in line with expectations. The asset addition pipeline continues to expand, driven primarily by managed hotels, although new hotel openings have been sluggish.
Growth over the next two years is expected to be driven by several factors: mix improvement at Aurika Mumbai, the opening of the 91-key Aurika property in Shimla in FY27, higher management fee income, and double-digit revenue per available room (RevPAR) growth for the owned portfolio. Lemon Tree Hotels is viewed as the best stock to capitalize on growth in the mid-market hotel segment. However, partial gains on profitability due to the industry upcycle are being eroded by recurring renovation expenses.
Disclaimer: The opinions, analyses, and recommendations expressed herein are those of the respective brokerage firms and do not reflect the views of The Times of India or Bharat Horizon. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
