Positive on the growth of Tata Motors Stock, Target raises to Rs. 400
Brokerages of India’s largest automobile company believe that the stock prices of their products will remain rising and are fully positive having a strong outlook on CV business along with margin improvements and free cash flow in India
The company also hosted an interactive meeting calling it Investor Day.
There they reiterated the profits and their new ways of improving the free cash flow trajectory for CV and their ambition to become debt-free by FY24.
The brokerages are saying as follows:
· CLSA: Rising target price from Rs345 to Rs400 and maintaining the purchase rates is a great plan, along with working on keeping higher values for the Indian business of Tata Motors.
· IIFL: A great turnaround is expected from the passenger vehicle business along with the auto industry volumes. They also are precisely focused on the new products and the cash flow boding well with the Tata Motors earnings for upcoming years.
· EDELWEISS: They have faith and confidence in the turnaround of the business to be sustainable and profitable. India can report for the increased cash flow and great margin in the coming years.