Goldman Sachs Boosts HAL Stock with Upgrade to 'Buy'

Hindustan Aeronautics (HAL) shares surged 6.09% to Rs 4,928.10 on Thursday after Goldman Sachs upgraded the stock to 'buy' from 'neutral'. The brokerage also raised its price target to Rs 5,870, implying an upside potential of 26% from current levels.

This is the first upgrade HAL has received from Goldman Sachs since October 2025. The upgrade is driven by three key factors: improved execution on the Tejas Mk1A fighter jet, streamlined engine deliveries from GE Aerospace, and a reevaluation of earnings estimates.

HAL plans to deliver 20 aircraft in FY27, up from an initial target of 12 in FY26. The LCA Mk1A order is worth Rs 48,000 crore, making it a key part of the company's overall order book of Rs 2.5 lakh crore at the end of FY26.

Of the 28 analysts covering HAL, 23 have a 'buy' rating, one has a 'hold' rating, and four have a 'sell' rating. The consensus price targets imply a 10.1% upside potential from current levels.