Morgan Stanley Upgrades Tata Motors To Overweight

by Shivani Kumaresan, Benzinga Staff Writer

October 7, 2021 3:18 PM | 26 seconds read |

Morgan Stanley analyst Binay Singh upgraded Tata Motors Ltd TTM to Overweight from Equal Weight with an INR 448 price target.
The analyst believes the next two years will be "strong" for the Indian auto sector and in particular Tata given its cost structure and refreshed models.
Singh noted Tata will see the highest operating and financial leverage gains along with market share wins as its overall business recovers.
Price Action: TTM shares are trading higher by 15.1% at $25.71 on the last check Thursday.