The global brokerage has maintained its ‘buy’ rating on the agrochemicals major with a target price of ₹715 per share, citing confidence in the company’s growth trajectory, margin improvement initiatives and upcoming value-unlocking triggers.
The call is directionally in line with the market’s consensus target of ₹737. 15 out of 19 analysts have a buy rating on UPL despite a sharp reversal in the stock’s returns this year.
| Brokerage | Target price | Call |
| Jefferies | ₹715 | Buy |
| 360 One | ₹801 | Buy |
| Morgan Stanley | 658 | Equalweight |
| Investec | ₹760 | Buy |
| Kotak Securities | ₹640 | Reduce |
HSBC’s Saurabh Jain has the highest price target of ₹880.UPL shares went up from a low ₹483 in November 2024 to a high ₹812.2 in December 2025. Since then, the stock has corrected nearly 30%.
Fundamentals remain strong
Jefferies noted that a key driver of profitability will be the company’s ongoing efforts to rationalise or exit unprofitable businesses. These measures are expected to support a gradual improvement in EBITDA margins over the coming quarters.
The brokerage also flagged UPL’s disciplined inventory management in Latin America, where the company is maintaining tight control of stock levels amid concerns about the impact of El Niño weather conditions.
Meanwhile, investors are closely watching developments around Advanta, UPL’s seeds business, which is expected to go public soon. The move could unlock value for shareholders.
Reflecting its positive stance on the stock, Jefferies projects 14% EBITDA growth in FY27, supported by revenue growth, improved operational efficiency, and a better business mix.
The brokerage believes the combination of earnings recovery, margin expansion and potential monetisation opportunities positions UPL favourably for further upside from current levels.
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First Published: Aug 25, 2026 9:41 AM IST
