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UBS cuts Tata Motors target price after earnings
May 30, 2012 / 5:52 AM / in 5 years

UBS cuts Tata Motors target price after earnings

Reuters Market Eye - UBS cut its 12-month price target for Tata Motors(TAMO.NS) to 270 rupees from 320 rupees, maintaining its “sell” rating after the auto maker’s weaker-than-expected operating earnings.

Jaguar Land Rover Freelander 2 vehicles are displayed on the production line for the media at their plant in Pune, 190km (118 miles) south of Mumbai, May 27, 2011. REUTERS/Danish Siddiqui

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.

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