Auto Stocks Surge: CLSA Bullish on Tata Motors, Macquarie Backs TVS Motor

In a significant market move, CLSA has upgraded Tata Motors to 'high conviction outperform' with a target price of ₹930, projecting a 36.2% upside. The brokerage cites favorable valuations amid near-term challenges. Meanwhile, Macquarie maintains TVS Motor as its top pick in the two-wheeler space, setting a target price of ₹2,904. TVS Motor's strong performance, including a 7.74% jump in share price over two days, is attributed to robust January sales and healthy Q3 results. These analyst recommendations come as the auto sector shows signs of recovery, with rural demand picking up and expectations of increased consumption post-budget.

 

Source: CNBC-TV18, Business Standard, NDTV Profit