Morgan Stanley has maintained its Underweight (UW) rating on Tata Elxsi, while reducing the target price to ₹6,000 from ₹6,500. The downgrade follows a F3Q miss on expectations, driven by prolonged weakness in the European transportation segment and the lack of significant recovery in Media & Healthcare.
The brokerage highlights concerns about limited growth visibility, the potential for further downward revisions to consensus estimates, and the stock’s high valuations. These factors are likely to contribute to continued underperformance in the near term.
At the current market price of ₹6,451.95, the target indicates a downside of approximately 6.99%.
Disclaimer: The above information is for informational purposes only and should not be construed as investment advice. Consult a financial advisor before making investment decisions.
