Goldman Sachs has maintained a ‘Neutral’ rating on Tata Motors, setting a target price of ₹690, indicating a 6% upside from the current market price of ₹648.90 (as of March 11). The brokerage remains cautious on JLR’s volume growth, which is expected to pick up after the ramp-down of Jaguar ICE models.
Another key factor under watch is the clarity on US tariffs, which is expected in April and could impact export volumes and profitability. Additionally, Tata Motors is revamping its small commercial vehicle (SCV) business in India, aiming for improved efficiency and market positioning.
Goldman Sachs also highlighted Tata Motors’ long-term electric vehicle (EV) strategy, with new EV plans scheduled for FY27. However, near-term growth concerns and uncertainties around global trade policies keep the brokerage neutral on the stock.
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.
