Moneycontrol PRO
Upcoming Webinar:Moneycontrol Pro in association with Quants League Sep'21 Edition brings to you to 5-Days Live Algorithmic Options Trading Virtual Conference. Register Now!

Buy Tata Motors: target of Rs 365: Sharekhan

Sharekhan is bullish on Tata Motors has recommended buy rating on the stock with a target price of Rs 365 in its research report dated February 22, 2021.

February 24, 2021 / 02:48 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Tata Motors


TAMO held an investor day conference, where management discussed about its product strategy, revenue drivers, and profitability expectations for commercial and passenger vehicle businesses. We expect TAMO’s earnings to become positive in FY2022E and 33.1% in FY2023E, driven by a 15.3% revenue CAGR during FY2021E-FY2023E and a 140 bps improvement in EBITDA margin. The stock trades at an attractive P/E multiple of 11.7x and EV/EBITDA multiple of 3.0x its FY2023E estimates.


Outlook


We maintain our Buy rating on Tata Motors (TAMO) with a revised PT of Rs. 365, factoring better outlook for the domestic businesses, robust FCF for the standalone businesses, sharp fall in debt, and better earnings visibility.


For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Feb 24, 2021 01:26 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark