Mumbai, December 18:
Shares of Tata Motors Commercial Vehicles Ltd. climbed sharply on Thursday, gaining over 3.5% in early trade after top global brokerages JPMorgan and Bank of America (BofA) initiated coverage on the stock with positive outlooks. The stock hit an intraday high of around ₹403 from Wednesday’s close near ₹386, buoyed by optimism around the company’s growth prospects heading into 2026. Both brokerages started coverage with bullish ratings — overweight from JPMorgan and buy from BofA — reflecting confidence in the commercial vehicle segment’s performance and Tata Motors’ strategic positioning.
Analysts from both institutions set a target price of ₹475, implying roughly 20% upside from current levels, driven by expectations of improving demand, disciplined margin management and value creation from initiatives such as the Iveco acquisition. The positive broker actions have lifted investor sentiment and contributed to the stock’s upward momentum in the broader auto sector. Market participants are now watching how these forecasts translate into earnings and deliveries in the coming quarters.
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