Defence Stock: HAL share price has risen around 16% in last one month with the India Pakistan News flow bringing focus on Defence stocks . Here 3 key reasons why Jefferies expects another 29% upside for the stock

3 Key reasons why Jefferies expects more upside

For three to five years, double-digit revenue growth for Hindustan Aeronautics Ltd should be driven by high margin service income and aircraft deliveries, expects Jefferies India Pvt Ltd. . FY26 sales projection of 8–10% seems modest. PM Modi’s praise of Made in India equipment amid recent tensions between India and Pakistan suggests a greater emphasis on indigenous production and purchased which is positive for HAL. Jefferies has given a BUY ratings with a target price of ₹6475 for HAL share price which currently is trading around ₹5000 levels. This indicates about 23% upside for HAL share price.

• EPS upgrades for FY26 and FY27- Jefferies has Increases Earnings Per share estimates for FY26 and FY27 by 3%. The global defense theme enhances the benefits of order book exposure.

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