Morgan Stanley Upgrades Tata Motors To Overweight

  • 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.
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