Goldman Sachs adds Tata Motors shares to 'conviction buy list', ups target price
Goldman Sachs adds India's * Tata Motors Ltd to its Asia-Pacific "conviction buy list" and raises its sum-of-the-parts target price on the stock to 368 rupees from 361 rupees. Goldman says it sees three key catalysts for Tata Motors shares, including improving market confidence on the auto maker's cash flow and profitability.
Goldman Sachs also cites the introduction of new models at unit Jaguar Land Rover, including Discovery and new Range Rover and Evoque units, and improved delivery to key markets such as Great Britain and China on the back of increased production. Tata Motor shares gain 1.64 percent to 294.70 rupees.