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HAL Stock Soars as Citi, Goldman Sachs Maintain 'Buy' on Strong Execution
M
Moneycontrol•21-09-2026, 09:24
HAL Stock Soars as Citi, Goldman Sachs Maintain 'Buy' on Strong Execution
- •Hindustan Aeronautics Ltd (HAL) shares rose over 1% after Citi and Goldman Sachs reiterated 'Buy' ratings, citing improved execution across fighter aircraft, trainers, and helicopters.
- •Citi set a target price of Rs 6,175, implying a 29% upside, while Goldman Sachs targeted Rs 5,870, indicating a 22% potential upside.
- •HAL's recent handovers include LCA Tejas FOC twin-seat trainers, HTT-40 basic trainers, and Dhruv Next Generation helicopters, demonstrating enhanced delivery capabilities.
- •Improved F404 engine availability and progress in aircraft testing are expected to reduce execution overhang for the LCA Mk-1A program.
- •Analysts anticipate a shift in focus towards HAL's ability to convert its substantial order backlog into revenue, aligning with India's indigenous manufacturing push.
Key Questions Answered
Citi maintained a 'Buy' rating on Hindustan Aeronautics Ltd with a target price of Rs 6,175 per share, while Goldman Sachs retained its 'Buy' call with a target of Rs 5,870.
HAL handed over the final two LCA Tejas FOC twin-seat trainers and three HTT-40 basic trainers to the Indian Air Force, along with four Dhruv Next Generation helicopters to Pawan Hans.
HAL management is targeting the delivery of 10 LCA Mk-1A aircraft by March 2027, supported by normalising GE F404 engine supplies and ongoing progress on aircraft testing.
