UBS has reiterated its ‘Sell’ rating on Tata Motors, reducing the target price to ₹780 per share, indicating a potential downside from the current market price (CMP) of ₹803.55. The brokerage notes that both Jaguar Land Rover (JLR) and the commercial vehicles (CV) segment have underperformed, while the passenger vehicles (PV) segment met expectations. Additionally, UBS expressed disappointment with the quality of the reported EBIT and highlighted that the free cash flow (FCF) guidance has been revised down to £1.3 billion from the earlier £1.8 billion.
Disclaimer: This information is for informational purposes only and does not constitute financial advice.
