TATAMOTORS(Tata Motors Limited)
10.01.2023 - MS on Tatamotors Maintain Overweight CMP 412.2 Target 502
10.01.2023 - JpMorgan on Tatamotors Maintain Neutral CMP 412.2 Target 400
10.01.2023 - CLSA on Tatamotors Maintain Buy CMP 412.2 Target 512
24.11.2022 - JpMorgan on Tatamotors Maintain Neutral CMP 423.9 Target 410
17.11.2022 - MS on Tatamotots Maintain Overweight CMP 422 Target 502
10.11.2022 - JpMorgan on Tatamotors Maintain Neutral CMP 413.2 Target 455
14.10.2022 - CLSA on Tatamotors Maintain Outperform CMP 396.25 Target 473
12.10.2022 - Nomura on Tatamotors Maintain Buy CMP 399 Target 520
10.10.2022 - JpMorgan on Tatamotors Maintain Neutral CMP 396.55 Target 455
29.09.2022 - Nomura on Tatamotors Maintain Buy CMP 404 Target 520
29.09.2022 - Jefferies on Tatamotors Maintain Buy CMP 404 Target 540
16.09.2022 - CS on Tatamotors Maintain Neutral CMP 433 Target 425
08.07.2022 - JpMorgan on Tatamotors Maintain Overweight CMP 440.5 Target 525
27.06.2022 - CLSA on Tatamotors Maintain Outperform CMP 409.30 Target 453
22.06.2022 - CLSA on Tatamotors Maintain Outperform CMP 397.6 Target 453
16.05.2022 - Jefferies on Tatamotors Maintain Buy CMP 406.90 Target 540
13.05.2022 - MS on Tatamotors Maintain Overweight CMP 375 Target 560
13.05.2022 - JpMorgan on Tatamotors Maintain Overweight CMP 375 Target 525
13.05.2022 - CLSA on Tatamotors Maintain Underperform from Sell CMP 375 Target 411(PREV TGT 392)
07.04.2022 - CLSA on Tatamotors Maintain Sell CMP 456 Target 392
07.04.2022 - MS on Tatamotors Maintain Overweight CMP 456 Target 561
24.03.2022 - CLSA on Tatamotors Maintain Sell CMP 436 Target 392
24.02.2022 - CLSA on Tatamotors Maintain Sell CMP 425.90 Target 408
17.02.2022 - JpMorgan on Tatamotors Maintain Buy Overweight CMP 498 Target 630
20.01.2022 - Macquarie on Tatamotors Maintain Buy CMP 521 Target 567
20.01.2022 - CLSA on Tatamotors Maintain Sell CMP 521 Target 408
20.01.2022 - Jefferies on Tatamotors Maintain Buy CMP 521 Target 625
13.01.2022 - CLSA On Tatamotors Maintain Sell CMP 512.55 Target 408
13.01.2022 - BOFA on Tatamotors Maintain Neutral CMP 650.05 Target 525
04.01.2022 - CLSA On Tatamotors Maintain Downgrade Sell from Buy Target 408
04.01.2022 - CLSA on Tatamotors Maintain Downgrade Sell Target 408
27.07.2021- JEFFERIES ON TATA MOTORS MAINTAIN BUY TARGET: 435
27.07.2021- UBS ON TATA MOTORS Maintain Neutral, Target at Rs 320 from Rs 350/share
09.07.2021- MS ON TATA MOTORS : MAINTAINEQUAL-WEIGHT TARGET: 298
09.07.2021 -HSBC ON TATA MOTORS : Maintain BUY, Target at Rs 340/share
08.07.2021- NOMURA ON TATA MOTORS MAINTAIN NEUTRAL TARGET: 353
08.07.2021- JEFFERIES ON TATA MOTORS MAINTAIN BUY TARGET: 435
07.07.2021 - NOMURA ON TATA MOTORS MAINTAIN NEUTRAL TARGET: 353
07.07.2021- MS on Tata Motors EW, TP Rs 300
01.07.2021 Jefferies Maintain Buy, Target At Rs 455/Share
UBS ON TATA MOTORS : 19.05.2021
* MAINTAIN NEUTRAL TARGET: 360
* Positive on India, but JLR volume expectations are high, chip shortage is likely to impact JLR volume in H1, UBS says in its report
* Positive On India, But JLR Volume Expectations Are High
* Chip Shortage Is Likely To Impact JLR Volumes In H1
* Inventories Are Low & We Are Constructive On India Truck Recovery
* Profitability Improvement For JLR Is Priced In
CLSA ON TATA MOTORS : 19.05.2021
* Maintain BUY, Upgrade target at Rs 450/share from Rs 425/share
* FCF generation at JLR and India continue to surprise positively
* Management expects a tough 1HFY22 for JLR and India
* Value the India business at Rs 243/share and JLR at Rs 209/share
GS ON TATA MOTORS : 19.05.2021
* MAINTAIN SELL TARGET: 254
* Q4 results a mixed bag with a beat on India business & a miss at JLR, GS says.
* Q4 Results A Mixed Bag With A Beat On India Biz & A Miss At JLR
* LR EBITDA Supported By Lower Incentives & Mktg Costs; Both To Increase InFY22
* JLR's Results Lagged Performance & Outlook Of Its Larger Peers BMW & Daimler
CITI ON TATA MOTORS : 19.05.2021
* MAINTAIN BUY TARGET: 395
* Domestic business reported a strong Q4 but JLR performance slightly weak, Citi says
* Domestic Business Reported A Strong Q4 But JLR Performance Slightly Weak
* There Are Near-term Headwinds For Both Biz
* Underlying Growth Drivers Are Intact & Recovery Is Seen Over H2FY22
KOTAK INSTL ON TATA MOTORS : 19.05.2021
* MAINTAIN SELL TARGET: 205
* Being late in EV launches may lead to a mkt loss for JLR going forward, Kotak Institutional Equities maintains SELL on Tata Motors
* Strong Operational Performance In Standalone Business
* JLR Operating Performance Below Due To Lower-than expected ASPS
* JLR Launches In The EV Space Pretty Late Than Competition
* JLR Trading At Significantly Higher Multiple As Compared To BMW
CLSA ON TATA MOTORS
* MAINTAIN BUY TARGET: 450
* Tata Motors management expects strong volume & free-cash-flow to resume in H2FY22. Here's what CLSA has to say
* FCF Generation At JLR & India Continues To Surprise Positively
* FY21 FCF At *5,300 Cr Despite COVID-related Disruptions
* Management Expects Strong Volume & FCF To Resume In H2FY22
NOMURA ON TATA MOTORS
* MAINTAIN REDUCE TARGET: 313
* Debt reduction is a positive for Tata Motors but lack of electric vehicles is a long-term concern for JLR, Nomura says, maintaining REDUCE rating on the stoc
* Q4 Ahead On Lower Marketing Spends For JLR
* Lower Marketing Spending Seen In Near Term
* Debt Reduction Positives; Lack Of EVs A Long-term Concern For JLR
UBS ON TATA MOTORS
* Maintain Neutral, Target at Rs 360/share
* Positive on India, but JLR volume expectations high
* JLR-FY22 volumes to grow 20%+; but Q1 to be EBIT breakeven
* Continue to value the India business at 10x FY23E
CLSA ON TATA MOTORS ; 27.05.2021
* MAINTAIN BUY TARGET: 450
* CLSA notes that JLR is beginning to outperform its peer, estimates JLR's overall April retail sales grew 150% YoY & 7% Vs April 2019.
* CLSA maintains BUY call on Tata Motors, target at Rs 450/sh
* JLR Beginning To Outperform Peers
* Non-China Markets Leading GrowthOn A Lockdown-impacted Base
* estimate JLR's Overall April Retail Sales Grew 150% YoY & 7% Vs Apr 2019
* Our Calculation Is Based On A Collation of Country-level Disclosures
* China Growth Remained Healthy At 26% YoY (Up 20% vs April 2019)
* Positive View On Co Premised On Strong FCF Generation & deleveraging
CLSA ON TATA MOTORS : 27.05.2021
• Maintain BUY, Target at Rs 450/share
• JLR beginning to outperform peers
• Non-China markets leading growth on a lockdown-impacted base
• JLR outperforms peers in China and EU; underperformance in US
* Strong growth in plug-in hybrids should reduce "perception" risk for JLR
* Expect a tough 1HFY22; FCF & deleveraging should continue in H2FY22