Shares of Titagarh Rail Systems have experienced a remarkable 16% increase over two days, following a 'Buy' rating from international brokerage Jefferies. The firm highlighted a significant rise in spending on passenger coaches, locomotives, and wagons, particularly focusing on safety and modernization, including the Vande Bharat trainsets. Jefferies forecasts a 10% compound annual growth rate (CAGR) in Indian Railways rolling stock spending from FY26 to FY30. The brokerage expects Titagarh to benefit from growing demand for passenger and metro coaches, estimating a 35% revenue and 43% EPS CAGR during the same period. Jefferies has set a target price of ₹810 per share, which represents a potential upside of nearly 27% from the last closing price of ₹639.35. Despite a 20% decline in 2026 so far, the stock has surged 143% over the past three years and an impressive 1,331% over five years. In contrast, Jefferies initiated coverage on Jupiter Wagon with an 'Underperform' rating, setting a target price of ₹200, indicating a 22% downside potential due to its higher valuation relative to growth expectations.