January 9, 2018 / 4:31 AM / 5 months ago

BUZZ-India's Tata Motors gains on record Jaguar Land Rover global sales in 2017

** Tata Motors Ltd’s shares rise as much as 2.2 pct to 443.00 rupees - highest since Nov. 9

** Jaguar Land Rover’s sales rose 7 pct to a record 621,109 vehicles in 2017

** However, co said it is facing tough conditions in UK market due to weakening consumer confidence and planned diesel tax hike on new cars

** Over the next three months, a series of launches are scheduled for JLR, and this should drive strong volume growth - Morgan Stanley says; keeps “equal-weight” rating, price target of 407 rupees

** Nomura analysts say JLR Dec global retail sales remained weak at 55,697 units, below estimate of about 57,000 units; maintains “buy” rating with a target price of 531 rupees

** Twenty-eight of 40 brokerages rate the stock “buy” or higher, 9 “hold” and 3 “sell” or lower; median PT is 500 rupees - Thomson Reuters Eikon

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