Tata Motors Ltd. may see its shares rise 38% from its current 52-week low, brokerage firm Morgan Stanley implied in its note on Wednesday, March 5.The brokerage though has an “equalweight” rating on the stock, which is equivalent to a “neutral” stance, with a price target of ₹853, which implies the current upside potential.
Shares of Tata Motors are trading near their 52-week low and have nearly halved from their peak of ₹1,179, which they had hit in July last year.
Morgan Stanley wrote in its note that sales for Land Rover in the US grew 79% from last year to 11,900 units. This is higher than the 70% growth seen in January and the 34% growth seen in December.
The US market formed 23% of Jaguar Land Rover (JLR)’s overall sales in financial year 2024, which is 15% of the consolidated sales figure for Tata Motors.Morgan Stanley has highlighted the European Commission’s industry action plan, which will be unveiled on March 5 as a key trigger to watch for the stock going forward. The brokerage went on to say that any flexibility on Carbon Dioxide regulations will be a positive for JLR.
Shares of Tata Motors are trading near their 52-week low and have nearly halved from their peak of ₹1,179, which they had hit in July last year.
Morgan Stanley wrote in its note that sales for Land Rover in the US grew 79% from last year to 11,900 units. This is higher than the 70% growth seen in January and the 34% growth seen in December.
The US market formed 23% of Jaguar Land Rover (JLR)’s overall sales in financial year 2024, which is 15% of the consolidated sales figure for Tata Motors.Morgan Stanley has highlighted the European Commission’s industry action plan, which will be unveiled on March 5 as a key trigger to watch for the stock going forward. The brokerage went on to say that any flexibility on Carbon Dioxide regulations will be a positive for JLR.
Out of the 34 analysts that have coverage on Tata Motors, 20 of them have a “buy” rating on the stock, nine of them say “hold”, while five of them have a “sell” rating on the stock. A consensus estimates of price targets imply a potential upside of 34% for the stock.
Despite the correction from its recent peak, at least three analysts tracking Tata Motors have a price target in excess of ₹1,000 for the stock. The highest target of ₹1,300 from Haitong implies that the stock may even double from current levels.
Shares of Tata Motors ended 0.3% lower on Tuesday at ₹619.5. The stock is down 17% so far this year.
