India's Tata Consumer rises after Goldman Sachs upgrades to "buy"

Tata Consumer Products

02/04/2025 05:23

** Shares of Tata Consumer Products TACN.NS rise 4.8% to 1,039.85 rupees after Goldman Sachs upgrades stock to "buy" from "neutral"

** Brokerage also hikes PT to 1,200 rupees from 1,040 rupees, above the median PT of 1,125 rupees from 26 brokerages as per LSEG

** TACN is likely to see strong earnings growth from fiscal year 2026 helped by recovery of tea margins with price hikes, brokerage says

** Raises EPS estimates for FY2026/2027 by 3%/7%, saying "worst is over for the company"

**Average rating on the stock is a "buy"; GS' price target implies an upside of about 20% to stock's last close

** TACN up 8.5% in 2025 so far compared to 1.5% drop in Nifty 50 .NSEI

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))