Credit Suisse Upgrades Tata Motors (TTM) to Outperform

Credit Suisse upgraded Tata Motors (NYSE: TTM) from Neutral to Outperform and raises its price target to Rs720 (from Rs510).

Analyst J. Chawla commented, "We believe the GBP depreciation will drive multi-year outperformance for TTMT (JLR) in a way similar to what happened with the JPY for the Japanese stocks. We upgrade the stock to OUTPERFORM (from Neutral) with a TP of Rs720 (from Rs510) representing a ~40% upside. Tata Motors replaces Maruti Suzuki (downgraded to NEUTRAL) as our top pick in Indian Autos."

For an analyst ratings summary and ratings history on Tata Motors click here. For more ratings news on Tata Motors click here.

Shares of Tata Motors closed at $39.10 yesterday.

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