Overweight on Titan Company with a target of Rs 485: Morgan Stanley

Morgan Stanley has an Overweight call on Titan Company Ltd. with a target price of Rs 485 . The current market price of Titan Company Ltd. is Rs 323.9 .Time period given by analyst is year when Titan Company Ltd. price can reach the defined target. The key positive for the quarter was the Jewellery EBIT margin of 11 per cent. The global investment bank saw 42 per cent contribution from higher-margin studded jewellery business. The key negative for the quarter was flat jewellery revenue growth, said the global investment bank. Morgan Stanley forecasts jewellery revenue growth of 14 per cent with EBIT margin of 10.8 per cent. Titan is top discretionary consumer stock pick in the MS portfolio.