UBS cuts Tata Motors FY 2013, 2014 forecasts
MUMBAI (Reuters) - UBS cut Tata Motors Ltd's (TAMO.NS) fiscal 2013 and 2014 earnings-per-share estimates by 6 percent after the automaker warned its luxury unit Jaguar Land Rover is likely to report a lower EBITDA margin in the October-December quarter.
UBS maintained its "sell" rating after the Tata announcement on Wednesday, citing "expensive" valuations, although the investment bank raised its price target to 255 rupees from 250 rupees as it rolls forward the target by six months.
(Reporting by Abhishek Vishnoi; Editing by G.Ram Mohan)
- Tweet this
- Share this
- Digg this
- India threatens to derail WTO deal, prompts angry U.S. rebuke
- Short Gaza truce takes hold; many bodies pulled from rubble
- Amazon's far-reaching ambitions, lack of profits, unnerve investors |
- Verizon to slow down speeds for some unlimited data subscribers
- UPDATE 3-Russia criticises EU sanctions, raps US over Ukraine role
Palestinians in the Gaza Strip poured into the streets on Saturday to recover their dead and stock up on food supplies after a 12-hour humanitarian truce agreed by Israel and Hamas took hold. Full Article
Amazon's far-reaching ambitions, lack of profits, unnerve investors Full Article