Tata Motors falls 5% as analysts cut price, earnings targets

HSBC and Kotak Institutional Equities downgraded the stock to ‘hold’ and ‘add’ and cut the target price by 10-11% over 12 months. JPMorgan, which had downgraded the stock a month ago, maintained its recommendation but cut target price by another 10% to ₹410 per share. It holds the most bearish view among the analysts that reviewed their ratings after the second quarter earnings, showed Bloomberg data.

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