TVS Motor share price surges 3% to hit all time high as UBS and JPMorgan turn bullish on the stock

TVS Motor share price surges over 3% in trade today to hit an all-time high of Rs 2,818 after brokerages like UBS and JPMorgan increased their target prices for the stock.

TVS Motor share price surges over 3% in trade today to hit an all-time high of Rs 2,818 after brokerages like UBS and JPMorgan increased their target prices for the stock. As of 9:25 AM, TVS Motor share price was at Rs 2,803.15, up 3.48% against the previous close. JPMorgan in its latest note has increased target price for TVS Motor to Rs 3,050 and upgraded the stock to Overweight. UBS too increased its target price for TVS Motor shares to Rs 3,200 per share.

UBS’ recommendation comes in the wake of the company’s recent launch of the new Jupiter scooter, which UBS analysts view as a significant upgrade over both its predecessor and competitors, while maintaining a similar price point.

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The new Jupiter model is expected to boost TVS Motors’ sales by an additional 15,000 to 20,000 units. UBS analysts believe that the launch of this upgraded scooter will provide a substantial volume boost for the company.

In addition to the new Jupiter, TVS Motors is anticipated to unveil a brand-new electric two-wheeler (E-2W) and enter the electric three-wheeler (E3W) market in the coming months. UBS views these upcoming launches as potential catalysts for further growth and market expansion for the company.