Macquarie has maintained an ‘Outperform’ rating on Tata Motors, implying a 21.7% upside from its current market price (CMP) of ₹678.80. The brokerage sees strong demand in the US market as a key driver for the stock’s growth and believes the risk-reward remains attractive following recent underperformance.
Macquarie highlighted that JLR’s peers are constructive on US demand, which could act as a positive catalyst for Tata Motors’ financials. The brokerage also noted that global peers remain optimistic about the US market, though the outlook for China remains uncertain.
Tata Motors’ management remains confident in achieving a net cash balance sheet for JLR by March 2025, further reinforcing its financial position. Additionally, the brokerage has added Tata Motors to its tactically preferred stocks list for India, reflecting its positive outlook on the company’s growth trajectory.
(Disclaimer: This article is for informational purposes only and does not constitute financial advice.)
