positive
Recently
JPMorgan Initiates Tata Motors Coverage with Overweight Rating on CV Recovery
JPMorgan initiates Tata Motors coverage with an Overweight rating and a price target of ₹475, forecasting a 23% upside, driven by a recovery in the CV market.
JPMorgan has initiated coverage on Tata Motors with an Overweight rating and a price target of ₹475, representing a potential upside of 23%. The bank's positive outlook is based on expectations of a modest recovery in India's commercial vehicle (CV) market after three years of stagnation. JPMorgan highlighted Tata Motors' pricing discipline, which, alongside Ashok Leyland, has led to margin and ROCE expansion despite weak demand.