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5 years ago
MARKET EYE-UBS cuts Tata Motors target price after earnings
May 30, 2012 / 5:37 AM / 5 years ago

MARKET EYE-UBS cuts Tata Motors target price after earnings

* UBS cut its 12-month price target for Tata Motors to
270 rupees from 320 rupees, maintaining its "sell" rating after
the Indian auto maker's weaker-than-expected operating earnings.
    	
* UBS believes volume growth for unit Jaguar Land Rover could
"incrementally disappoint."	
* Bank adds domestic sales growth remains at risk due to India's
weak economic outlook and increasing competition.	
* Shares last down 8.3 percent at 253 rupees.	
	
 (manoj.dharra@thomsonreuters.com)

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