- Goldman Sachs upgraded its recommendation on Hindustan Aeronautics (HAL) to "buy" from "neutral" and raised its price target to ₹5,870 from ₹5,545, implying an upside potential of 26% from Thursday's closing levels.
- Shares of Hindustan Aeronautics Ltd. (HAL) gained as much as 5% on Thursday, August 6, after brokerage firm Goldman Sachs upgraded the stock.
- HAL is scheduled to announce its Q1 FY27 results on August 12, 2026.
- HAL plans to deliver 20 aircraft in FY27 compared to the initial target of 12 in FY26, which was then cut down to five to six.
- This is the first upgrade that HAL has received from Goldman Sachs since the brokerage initiated coverage on it in October 2025.
- During the previous quarter's earnings call, HAL management highlighted it had received six engines from GE and that aircraft were undergoing tests, expecting to resolve issues and stabilize matters by August and September.
Goldman Sachs has upgraded Hindustan Aeronautics Ltd. (HAL) to 'buy' from 'neutral', raising its price target to ₹5,870 from ₹5,545, indicating a potential upside of 26% from current levels.1236
This upgrade marks the first from Goldman Sachs since it began coverage in October 2025.
Key factors for the upgrade include expectations of improved execution for the Tejas Mk1A fighter jet, which has faced delays, and streamlined deliveries of F-404 engines from GE Aerospace.
Goldman Sachs anticipates that HAL's execution will pick up from the second quarter of this financial year, with deliveries expected to commence by September 2026.
The company plans to deliver 20 aircraft in FY27, significantly up from the initial target of 12 in FY26, which was later reduced to five to six.5
Currently, 28 analysts cover HAL, with 23 recommending a 'buy' rating, reflecting strong market confidence.
Ravi Singh, Chief Research Officer at Master Capital Services, noted that HAL is approaching a crucial resistance zone between ₹4,900-5,000, supported by positive sentiment in India's defence sector.
HAL is set to announce its Q1 FY27 results on August 12, 2026, with an analyst presentation scheduled for August 28, 2026.4
“The upgrade marks the first from Goldman Sachs since initiating coverage in October 2025, with the brokerage citing execution pick-up from Q2 and streamlined GE Aerospace F-404 engine deliveries from H2. HAL plans to deliver 20 aircraft in FY27, up from a cut-down target of five to six in FY26, with the LCA Mk1A order worth ₹48,000 crore.”
CNBC TV18
