ITC share price jumps 2% post Q2 results; brokerages predict upto 28% upside—check targets

ITC Share Price Target 2025: The diversified conglomerate ITC ltd share price jumped 1.6 per cent on Friday to Rs 425.45 on NSE, up Rs 6.70 intraday, after the company reported a steady set of Q2FY26 results. The stock has gained 5 per cent in the past one month but remains down 2 per cent in six months and over 15 per cent over the past year.

ITC Share Price Target 2025

Global brokerages maintained their positive stance on ITC after the company’s Q2 results, highlighting steady performance in cigarettes and improving trends in paperboard and FMCG segments.

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Goldman Sachs: Maintains buy, target raised to Rs 490 from Rs 480.

CLSA: Maintains accumulate, target trimmed to Rs 485 from Rs 489.

Morgan Stanley: Maintains overweight, target at Rs 469.

JP Morgan: Maintains overweight, target at Rs 475.

Jefferies: Maintains buy, target at Rs 535.

Nomura: Maintains buy, target at Rs 540.

Most analysts termed the quarter “in line”, citing a 6 per cent YoY rise in cigarette volumes and a 4 per cent EBIT growth. They expect margin recovery in FMCG and paperboard businesses to drive earnings in the coming quarters.

Q2FY26 Results Highlights

ITC posted a consolidated net profit of Rs 5,186.55 crore, up 4.1 per cent year-on-year, while revenue from operations slipped 1.3 per cent to Rs 21,255.86 crore compared to Rs 21,536.38 crore in Q2FY25.

Cigarette segment: Revenue up 6.8 per cent YoY; volume growth of 6 per cent. Strong traction seen in premium variants and mainstream trademarks.

FMCG business: Sales up 6.9 per cent YoY; EBITDA margin improved 50 bps sequentially to 10 per cent. Commodity prices stabilised at elevated levels.

Agri business: Segment revenue for H1 up 7 per cent; quarterly performance impacted by high base and timing factors.

Paperboards, paper & packaging: Profit rose 17 per cent sequentially; margins expanded by 90 bps QoQ, signalling a recovery in the segment.

The company said performance remained resilient amid input price volatility, supported by price-volume rebalancing and cost management measures.