Jefferies Downgrades Tata Motors (TTM) to Hold

Jefferies downgraded Tata Motors (NYSE: TTM) from Buy to Hold.

The firm comments, "JLR has benefited from a fortuitous combination of strong demand, strong pricing, superior mix and controlled investments. We see increasing adverse risk to all these factors — especially to demand strength and extraordinary pricing power in China. Near term product mix is likely to weaken while investments are being stepped up. The slowdown in the domestic CV market could put further pressure on cash flows. We cut our rating to Hold."

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 $21.53 yesterday.

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