Tata Motors after weak Q1 show; CLSA cuts target

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.

TATA MOTORS Q1 LOSS DOUBLES TO RS 3,680 CRORE AS JLR WOES CONTINUE