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UPDATE: Spark Capital Downgrades Tata Motors to Add on Price Appreciation

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Spark Capital lowered its rating on Tata Motors (NYSE: TTM) from Buy to Add.

Spark Capital noted, "We remain positive on the stock given the sustained momentum in JLR and a strong new launch pipeline. We expect a series of new launches in JLR to broaden the scope of offerings from the company. In the near term, we expect the new Range Rover and the downsized power trains in China to drive sales. The commencement of the 3rd shift operations in Halewood will ease production constraints for the Evoque and Freelander. Management indicated that increased production may reflect on sales in the Oct/ Nov 2012 sales numbers."

Tata Motors closed at $24.50 on Wednesday.

Latest Ratings for TTM

DateFirmActionFromTo
Sep 2014JefferiesUpgradesHoldBuy
May 2014Morgan StanleyDowngradesOverweightEqual-weight
Feb 2014NomuraUpgradesNeutralBuy

View More Analyst Ratings for TTM
View the Latest Analyst Ratings

Posted-In: Spark CapitalAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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