Tata Motors after weak Q1 show; CLSA cuts target
Performance Today : Outperformed Sector by 0.81%
New 52 Week Low: Touched a new low of Rs 138.15
Trend Reversal: Stock has gained after 3 days of consecutive fall
Open Gap Down: Stock opened at a loss of -4.30%
Day’s High: Stock touched an intraday high of Rs 150.05 (3.95%)
Shares of Tata Motors rebounded nearly 3 percent intraday on July 26 after hitting a fresh nine-year low in early trade after a disappointing show in June quarter (Q1).
Global brokerage houses are mixed in their opinion with CLSA cutting price target on the stock.
What brokerages said about Tata Motors post Q1 earnings:
Brokerage: Morgan Stanley | Rating: Equal-weight | Target: Rs 192 | Return: 33 percent
Brokerage: Jefferies | Rating: Buy | Target: Rs 200 | Return: 38 percent
Brokerage: CLSA | Rating: Sell | Target: Rs 120 | Return: 17 percent
Concerns on India truck demand & competition are manifesting. Hence the brokerage reduced its FY20-21 EPS estimates by 9-31 percent.