Macquarie has maintained its ‘Outperform’ rating on Tata Motors, setting a target price of ₹826, implying a 27% upside from the current market price of ₹648.90 (as of March 11). The brokerage remains confident in Jaguar Land Rover (JLR)’s financial recovery, expecting it to achieve a net cash balance sheet by FY25, which is a key factor in Macquarie’s bullish stance.
Additionally, Tata Motors’ domestic commercial vehicle (CV) margins are improving in line with expectations, indicating operational efficiency and strong cost control measures. The company is also prioritizing service quality enhancements in its domestic passenger vehicle (PV) segment, which could strengthen its market position and customer satisfaction.
Macquarie believes Tata Motors is well-positioned for future growth, supported by JLR’s financial turnaround and stable performance in the domestic market.
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.
