Systematix Group has initiated coverage on Timex Group India with a ‘Buy’ rating and a target price of Rs 820, highlighting the watchmaker’s corporate turnaround, premiumisation strategy and improving financial performance.
The brokerage has valued Timex Group India at 45 times its September 2028 estimated earnings per share. The target represents an upside of around 30% from the report’s reference price of Rs 629.
