Tata Steel’s stock surged 2% after JP Morgan reaffirmed its ‘overweight’ rating and raised the target price to ₹180, signaling a potential 20% upside from the current market price of ₹150.28. The brokerage highlighted a sharp rise in European steel spreads, which jumped 18% quarter-on-quarter and 60% on a spot basis compared to Q3 FY25 averages.
Despite this significant improvement, analysts believe the market has yet to fully price in the impact on Tata Steel’s earnings. JP Morgan expects Tata Steel’s European business to reach EBITDA breakeven by Q1 FY26, driven by higher pricing trends and improving market conditions. This turnaround is expected to be a major growth catalyst, supporting the company’s overall earnings outlook.
Tata Steel’s stock opened at ₹152.00, reaching a high of ₹153.56 and a low of ₹151.64 during the trading session. The stock’s 52-week high stands at ₹184.60, while its 52-week low is ₹122.62.
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