Deutsche upgrades Tata Motors, cites better global economy - Reuters India

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• Reuters Market Eye - Deutsche Bank upgrades Tata Motors Ltd (TAMO.NS) to "buy" from "neutral" and raises its target price to 400 rupees from 275 rupees, citing an improving global economy. "China and the U.S., which account for 45 percent of Jaguar...
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Tata Motors logos are pictured outside their flagship showroom in Mumbai May 28, 2013.

Credit: Reuters/Vivek Prakash/Files

Fri Oct 4, 2013 10:17am IST

Reuters Market Eye - Deutsche Bank upgrades Tata Motors Ltd (TAMO.NS) to "buy" from "neutral" and raises its target price to 400 rupees from 275 rupees, citing an improving global economy.

"China and the U.S., which account for 45 percent of Jaguar LandRover's volumes, have been particularly robust. For JLR, this has echoed in falling incentives, volume momentum and robust margins," Deutsche said in its report dated on Thursday.

Tata Motors shares are up 4.35 percent at 1016 am.

(Reporting by Abhishek Vishnoi)

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