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Tata Motors shares were up 0.6 per cent at Rs 985.40. PL's target price on the stock suggests a potential 9.09 per cent upside over this level. The stock is up 24 per cent in 2024 so far and 60 per cent in the last six months.
Following the quarterly results, Morgan Stanley retained an Outperform rating on Tata Motors stock while Jefferies took a Buy view. Among the domestic brokerages, Motilal Oswal and Nuvama recommended Buy while ICICI Securities has suggested an Add . ....
Tata Motors share price target: Motilal Oswal Securities said Tata Motors should witness a healthy recovery as supply-side issues ease for JLR and commodity headwinds stabilise for the India business. It has a target of Rs 650 on the stock.
Tata Motors shares: Motilal Oswal Securities said the stock trades at 16.9 times its estimated FY24 consolidated EPS and 13.7 times its estimated FY25 consolidated EPS. The brokerage has a 'Buy' rating on the stock with a target of Rs 525.