Buy Tata Motors, target Rs 269: ICICI Direct
ICICI Direct has a buy call on Tata Motors with a target price of Rs 269.
The current market price of Tata Motors is Rs 261.50.
Time period given by the brokerage is one year when Tata Motors price can reach the defined target.
"Tata Motors owned Jaguar & Land Rover (JLR) at its recently held Investor Day, highlighted its business challenges & strategies for the way forward. JLR has laid down its strategy that focuses on 1) increasing its offering of advance driver-assistance system (ADAS) that is shaping up the industry; 2) to launch four new models thereby taking total nameplate to 16 by FY24E; 3) focus on cost (via engineering capabilities, globalise sourcing & managing SG&A) and; 4) improving the financial performance (for FY19-21E, its EBIT guidance maintained at 4-7% while investment is expected to be £4.5 bn per annum). The huge investment will have near term impact on cash flow though the same will improve, going forward," ICICI Direct said in a report.
The current market price of Tata Motors is Rs 261.50.
Time period given by the brokerage is one year when Tata Motors price can reach the defined target.
"Tata Motors owned Jaguar & Land Rover (JLR) at its recently held Investor Day, highlighted its business challenges & strategies for the way forward. JLR has laid down its strategy that focuses on 1) increasing its offering of advance driver-assistance system (ADAS) that is shaping up the industry; 2) to launch four new models thereby taking total nameplate to 16 by FY24E; 3) focus on cost (via engineering capabilities, globalise sourcing & managing SG&A) and; 4) improving the financial performance (for FY19-21E, its EBIT guidance maintained at 4-7% while investment is expected to be £4.5 bn per annum). The huge investment will have near term impact on cash flow though the same will improve, going forward," ICICI Direct said in a report.
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