CLSA has reiterated its ‘High Conviction Outperform’ rating on Tata Motors, setting a target price of ₹930, implying a 43% upside from the current market price of ₹648.90 (as of March 11). The brokerage remains positive on Jaguar Land Rover (JLR)’s performance, as management remains confident of achieving FY25 targets.
CLSA highlighted that JLR is expected to witness strong volume growth in Europe and the US, supported by improving demand trends and strategic initiatives. Additionally, the brokerage noted that JLR is currently trading below its normative multiple, suggesting that the stock has room for re-rating as earnings improve.
With robust volume expectations and confidence in meeting financial targets, CLSA believes Tata Motors remains well-positioned for further growth in both the luxury and domestic automotive segments.
Disclaimer: The above stock recommendations are based on brokerage reports and do not constitute financial advice. Investors are advised to conduct their own research before making investment decisions.
