Morgan Stanley upbeat on Tata Motors; sees 20% upside
Tata Motors share price: Global brokerage firm Morgan Stanley has maintained 'overweight' rating on Tata Motors and raised the target to Rs 502, implying more than 20 per cent return.
Tata Motors share price: Shares of automobile maker Tata Motors traded positive on Thursday, December 14, post announcement of a deal with Everest Fleet for delivery of ‘XPRES-T’ electric vehicles. As part of the deal, Tata Motors will supply 5,000 units of XPRES-T EVs. The company handed over 100 units to Mumbai-based Everest Fleet on Wednesday
Global brokerage firm Morgan Stanley has maintained 'overweight' rating on Tata Motors and raised the target to Rs 502, implying more than 20 per cent return.
According to Zee Business panellist and market expert Vikas Sethi, the company's agreement with Everest Fleet is a positive news and that investors should buy Tata Motors stocks for long term.
Shares of Tata Motors are currently available at a discount of more than 20 per cent from its 52-week high of Rs 528.50.
In July 2021, Tata Motors launched the 'XPRES' brand exclusively for fleet customers, and the XPRES-T EV is the first vehicle under this brand. The new XPRES-T electric sedan comes with two range options -- 213km and 165km (ARAI certified range under test conditions).
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In another related development, Tata Motors earlier this week said it will increase prices of its commercial vehicle range by up to 2 per cent from January to offset the impact of rising input costs. While the price increase will vary as per individual model and variant, it will be applicable across the entire range of commercial vehicles, the auto major said in a statement.
The company has been absorbing a significant portion of the increased costs, but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike, it added.
Tata Motors is the country's leading player in the commercial vehicle segment.
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