BNP Paribas gives Outperform call on Tata Motors; target price Rs 830
Synopsis
Tata Motors gets an outperform rating from BNP Paribas Securities. The target price is set at Rs 830. The current market price is Rs 674.4. The brokerage uses a blended valuation method. This considers various factors like EV/sales and P/E ratios. The valuation benchmarks BMW and Mercedes Benz for JLR. Brilliance China Automotive is the benchmark for the China JV.
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