Allied Blenders shares ticked up 0.33% to ₹714.50 on Friday, after Nomura announced a Buy rating and a ₹850 price target, implying a 19% upside.
Nomura’s research team values the company at 48× September 2028 earnings‑per‑share, anchoring the target at the lower end of the sector’s valuation band.
The brokerage cites premiumisation, backward integration and the India‑UK free‑trade pact as catalysts for margin expansion of more than 300 basis points, which would feed a projected 30% earnings‑per‑share CAGR between FY26 and FY29.
Earlier in June, Jefferies set a ₹780 target, highlighting mid‑teen volume growth in the premium portfolio over FY26‑29. Allied Blenders has already outperformed the sector with a 17% YTD gain, reinforcing the optimism.
With the target in place, analysts expect the stock to trail the mid‑to‑long‑term upside as earnings materialise, and investors may look to next quarter’s guidance for further confirmation.