Buy Tata Motors, target Rs 545: CLSA
India business swings into profits earlier than we expected. CLSA expects Tata Motors to deliver a strong 21 per cent EPS Cagr over FY16-18.
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| Updated: CLSA maintains a buy rating on Tata Motors post march quarter results with a 12-month target price of Rs 545. The prformance of JLR, China JV and India surprised positively.
The management commentary on most issues of concern was sanguine. "We believe that more positive surprises on volumes and margins are possible," said the CLSA note.
India business swings into profits earlier than we expected. CLSA expects Tata Motors to deliver a strong 21 per cent EPS Cagr over FY16-18.
The management commentary on most issues of concern was sanguine. "We believe that more positive surprises on volumes and margins are possible," said the CLSA note.
India business swings into profits earlier than we expected. CLSA expects Tata Motors to deliver a strong 21 per cent EPS Cagr over FY16-18.
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