Buy Tata Motors, target Rs 200: Phillip Capital (India)

Phillip Capital (India) has a buy call on Tata Motors with a target price of Rs 200.

The current market price of Tata Motors is Rs 152.15.

Time period given by the brokerage is one year when Tata Motors price can reach the defined target.


Outlook and valuation by the brokerage: We cut our estimates post disappointing Q3 results and maintain BUY as we see steps by the company bearing fruit (although late) and favourable. The stock performance would certainly need favourable volume momentum. Revised target price at Rs 200 (Rs 290 earlier).