Tata Motors Stock Price: Shares of Tata Motors may jump up to 60% from the current level. This estimate has been given by brokerage firm Macquarie. The brokerage has given “outperform” rating on Tata Motors Limited stock and has set a target price of Rs 1,278 per share. This is 60 percent more than the closing price of the stock on January 8 on BSE. There is a fall in the stock on 9 January.
Macquarie said the main positive for JLR’s third-quarter sales figures was its healthy product mix, with premium models accounting for 70% of total sales. This figure was 62% in the December 2023 quarter and 67% in the September 2024 quarter. Macquarie wrote in its note that JLR’s earnings trajectory and cash flow, growth in the domestic commercial vehicle business and passenger vehicle margins are the key factors to track for Tata Motors from now on.
What do Morgan Stanley and Nomura expect?
Morgan Stanley also expects a 15% rise in Tata Motors shares. The brokerage has maintained “equalweight” rating with a target price of Rs 920 per share. Morgan Stanley said JLR’s wholesale volumes for the third quarter came ahead of its estimates. Morgan Stanley expects 9.6% EBIT margin for JLR in the current quarter.
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Nomura has “buy” rating for Tata Motors with a target price of Rs 990 per share. The brokerage expects free cash flow of £250 million (about Rs 2637.37 crore) in the third quarter due to higher volumes. According to Nomura, Tata Motors could reach net cash per share of ₹86 by FY2027. Of the 36 analysts covering Tata Motors, 22 have a “Buy” rating, 9 have a “Hold”, while 5 have a “Sell” rating on the stock.
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