JP Morgan Chase has upgraded Titan Company, a subsidiary of the Tata Group, to 'Overweight' from 'Neutral', citing strong performance in the jewellery sector. The brokerage has set a target price of ₹5,400, representing a 19.54% upside from the current market price. Analysts Latika Chopra, Himanshu Singh, and Saransh S Gokhale highlighted Titan's impressive exit from FY26, driven by robust jewellery demand, market share gains, and a diverse brand portfolio that includes Tanishq, Mia, Zoya, and CaratLane. They expect Titan to benefit from sector formalisation, innovation, and expanding distribution channels, despite the challenges posed by elevated gold prices. JP Morgan anticipates a 13% revenue CAGR and a 20% EPS CAGR over FY26-28E, supported by revenue upgrades and strong demand indicators. The jewellery segment's resilience, particularly in buyer and transaction growth, has exceeded expectations, with initiatives aimed at making jewellery more accessible contributing significantly to sales. The brokerage also noted that Titan's strategy of offering lightweight products and various carat options helps maintain growth in a high-gold-price environment. Overall, the analysts believe Titan's diverse brand strategy and focus on innovation position it well for continued success.