Jefferies has reiterated its ‘Buy’ rating on Tata Motors, adjusting the target price to ₹1,000 per share, indicating a potential 24% upside from the current market price (CMP) of ₹803.55. The brokerage notes that Jaguar Land Rover (JLR) anticipates a significantly improved performance in the second half and has maintained its FY25 margin guidance. However, demand in India’s commercial vehicle (CV) and passenger vehicle (PV) segments has slowed. Consequently, Jefferies has reduced its FY25-27 earnings per share (EPS) estimates by 2-9%.
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