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    HomeNewsBusinessStocksBuy Tata Motors; target of Rs 518: Geojit Research

    Buy Tata Motors; target of Rs 518: Geojit Research

    Geojit Research is bullish on Tata Motors has recommended buy rating on the stock with a target price of Rs 518 in its research report dated February 22, 2017.

    February 27, 2017 / 13:03 IST

    Geojit Research's report onTata Motors

    While JLR revenues increased by moderate 13% YoY, standalone business witnessed a growth of just 1.8%% YoY. Volumes at JLR (excluding China joint venture) fell by 6.7% YoY to 1.31 lakh units mainly due to Discovery run-out. Notably, volumes of Discovery/Range Rover (RR)/Range Rover Sport (RRS) were down YoY by 64%/23%/13%.

    Outlook

    Given the strong product pipeline for JLR, we maintain positive stance on TAMO. We value the stock on SOTP basis, ascribing separate values to JLR (3.5xEV/EBITDA), China JV (3.5x EV/EBITDA), Standalone (8x EV/EBITDA) & investments in subsidiaries (using P/E, P/BV), revising TP to Rs518 from Rs510. Maintain BUY.

    For all recommendations, click hereDisclaimer: 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.

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    first published: Feb 27, 2017 01:03 pm

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