Tata Motors target price now 360 rupees: BofA-ML

Wed Jan 2, 2013 11:13am IST

Men walk inside a Tata Motors showroom on the outskirts of Agartala, capital of Tripura, November 7, 2012. REUTERS/Jayanta Dey/Files

Men walk inside a Tata Motors showroom on the outskirts of Agartala, capital of Tripura, November 7, 2012.

Credit: Reuters/Jayanta Dey/Files

Related Topics

Stocks

   

Reuters Market Eye - Bank of America-Merrill Lynch upgrades Tata Motors(TAMO.NS) to 'buy' from 'neutral' and raises its target price to 360 rupees from 285 rupees.

BofA-Merrill cites expectations Tata's key unit Jaguar Land Rover would meet full-year sales expectations of 363,000 units and sustain momentum.

At home, the investment bank says Tata's truck/bus unit is closer to a trough, while light commercial vehicles are "growing ahead of peers" and the utility vehicles segment is benefitting from a structural uptrend.

The domestic cars unit may not recover, Boa-Merrill adds, but says lowered expectations have been built into forecasts.

Shares in Tata Motors were last up 0.6 percent at 318.5 rupees.

(Reporting by Abhishek Vishnoi)

FILED UNDER:

REUTERS EXCLUSIVE

Reuters Showcase

Documents' Leak

Documents' Leak

India widens oil leaks probe to defence ministry  Full Article 

Bharti-China Mobile

Bharti-China Mobile

Bharti Airtel, China Mobile to collaborate on 4G  Full Article 

Food Security

Food Security

India will not cut multi-billion dollar food handout programme - PM  Full Article 

Rich List

Rich List

Bill Gates tops Forbes rich list, Michael Jordan joins.  Full Article 

Tough Task

Tough Task

India needs sustained GDP growth of 9-10 percent - Jaitley.  Full Article 

Budget 2015

Budget 2015

Budget announcements and reactions from the industry  Full Coverage 

New Credit Cards

New Credit Cards

Insight: Costly shift to new credit cards won't fix security issues   Full Article 

Environment Watch

Environment Watch

Deforestation could shift monsoons, leaving India high and dry.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage