Market Overview

UPDATE: Credit Suisse Upgrades Tata Motors to Outperform on New Range Rover Momentum

Related TTM
3 Foreign Auto Stocks Ready to Burn Rubber - Analyst Blog
Tesla Hits Back at Lemon Lawyer - Analyst Blog

Credit Suisse upgraded Tata Motors (NYSE: TTM) from Neutral to Outperform.

Credit Suisse noted, "Our channel checks with Chinese dealers (done by the Chinese Autos team) suggest that dealers expect to sell ~30,000 RRs in China alone. Hence we have upgraded our RR estimates from 35k units to 50k units for FY14. … We believe the new RR can drive a >10% ASP increase for the company over the next few quarters. Combined with RR being a high margin product, we expect JLR's margins to expand ~200 bp over the next few quarters. Jaguar has a number of new launches lined up: new F type, AWD models for US market and XF Sportbrake for the European market which will boost utilisation levels at Jaguar from 70% to ~85%% and improve margins at the loss-making Jaguar as well."

Tata Motors closed at $28.79 on Monday.

Posted-In: Credit SuisseAnalyst Color Upgrades Intraday Update Analyst Ratings


Most Popular

Related Articles (TTM)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free