JPMorgan has maintained its overweight rating on Tata Steel, setting a target price of ₹180, suggesting a 17% upside from the current market price of ₹153.81. Tata Steel reported an EBITDA beat in Q2, driven by lower-than-expected employee costs and other expenses. JPMorgan sees no major negatives from the earnings report and expects the stock to respond positively to the strong headline results.
The brokerage highlighted that management’s commentary on debt reduction will be key, as investors seek guidance on the company’s financial health. Overall, JPMorgan remains optimistic on Tata Steel’s performance going forward.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult with a financial advisor before making any investment decisions.
