Sanford C. Bernstein Upgrades Tata Motors Ltd. (TTM) to “Outperform”
Tata Motors Ltd. (NYSE:TTM) was upgraded by Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $48.00 price objective on the stock. Sanford C. Bernstein’s price target would indicate a potential upside of 41.30% from the company’s previous close.
Other analysts have also issued research reports about the company. Zacks Investment Research upgraded Tata Motors from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a report on Thursday, September 1st. Credit Suisse Group AG upgraded Tata Motors from a “neutral” rating to an “outperform” rating in a report on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $42.49.
Tata Motors (NYSE:TTM) opened at 33.97 on Monday. The stock has a 50 day moving average price of $39.01 and a 200 day moving average price of $37.09. The stock has a market capitalization of $23.07 billion, a P/E ratio of 14.15 and a beta of 2.87. Tata Motors has a 12 month low of $20.00 and a 12 month high of $44.79.
A number of institutional investors have recently modified their holdings of the company. LPL Financial LLC raised its position in shares of Tata Motors by 26.8% in the third quarter. LPL Financial LLC now owns 28,191 shares of the company’s stock worth $1,148,000 after buying an additional 5,967 shares during the period. Schafer Cullen Capital Management Inc. raised its position in shares of Tata Motors by 5.0% in the third quarter. Schafer Cullen Capital Management Inc. now owns 69,909 shares of the company’s stock worth $2,795,000 after buying an additional 3,331 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of Tata Motors during the third quarter worth about $416,000. Panagora Asset Management Inc. increased its stake in shares of Tata Motors by 1,540.5% in the third quarter. Panagora Asset Management Inc. now owns 82,515 shares of the company’s stock valued at $3,299,000 after buying an additional 77,485 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Tata Motors by 851.9% in the third quarter. D. E. Shaw & Co. Inc. now owns 260,774 shares of the company’s stock valued at $10,426,000 after buying an additional 233,379 shares in the last quarter. Institutional investors own 12.11% of the company’s stock.
About Tata Motors
Tata Motors Limited is an automobile company. The Company is engaged in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. Its operating segments include automotive operations and all other operations.
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