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BW Businessworld

Barclays Upgrades Tata Motors To 'Overweight'

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Barclays upgrades Tata Motors to "overweight" from "underweight" and raises its target price to Rs 368 rupees from Rs 265, citing improving performance at unit Jaguar Land Rover (JLR).

Barclays adds JLR's performance has been improving as Europe and the US are showing signs of recovery along with "continued volume strength" from China.

"While Tata Motors' domestic business remains under stress due to macro concerns, we believe an improved performance from JLR should offset any drag from the standalone operations," Barclays said in a note.

Tata Motors shares are down 0.5 per cent at 1015 IST.

(Reuters)
   
 


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auto tata motors news 9 barclays jaguar land rover jlr