Titagarh Rail shares surge 9% to a 15-week high after Morgan Stanley initiates coverage with an 'Overweight' rating, targeting ₹1,285.

Titagarh Rail shares surge 9% to 15-week high after Morgan Stanley initiates coverage with 'Overweight' rating, setting a target price of ₹1,285, up 24% from previous closing price. Morgan Stanley identifies freight as a substantial revenue driver and sees potential for growth in the passenger business. The firm anticipates strong 28% earnings CAGR for FY 24-27 and values the company at 35x FY26 PE.