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UBS cuts Tata Motors FY13, 2014 forecasts

UBS maintains its ‘sell’ rating after the Tata Motors announcement on Wednesday, citing ‘expensive’ valuations
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First Published: Thu, Jan 24 2013. 09 25 AM IST
UBS raised its price target to Rs255 from Rs250 as it rolls forward the target by six months. Photo: Abhijit Bhatlekar/Mint
UBS raised its price target to Rs255 from Rs250 as it rolls forward the target by six months. Photo: Abhijit Bhatlekar/Mint
Updated: Thu, Jan 24 2013. 12 38 PM IST
Mumbai: UBS cut Tata Motors Ltd’s fiscal 2013 and 2014 earnings-per-share estimates by 6% after the auto maker warned its luxury unit Jaguar Land Rover is likely to report a lower earnings before interest, taxes, depreciation, and amortization (Ebitda) margin in the October-December quarter.
UBS maintained its “sell” rating after the Tata announcement on Wednesday, citing “expensive” valuations, although the investment bank raised its price target to Rs.255 from Rs.250 as it rolls forward the target by six months.
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First Published: Thu, Jan 24 2013. 09 25 AM IST
More Topics: UBS | Tata Motors | Jaguar Land Rover | EBITDA |
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