Tata Steel share price target cut by Nomura; Find out why UBS is 'neutral' on the stock
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Tata Steel shares are in focus on Wednesday, November 11, following mixed views from global investment firms.
- ✓Nomura cut its target price to ₹210, citing project delays and higher costs.
- ✓Meanwhile, UBS kept a neutral rating with a ₹220 target, noting that consolidated EBITDA rose 18% from the previous year.
Story at a Glance
- Category
- Indian Markets
- Reported By
- CNBC TV18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Shares of Tata Steel Ltd. are in focus on Wednesday, November 11, as global investment banking firms have mixed views on the stock after its September quarter results.
Nomura has a "buy" recommendation on the Tata Steel but has cut its target price, indicating an upside of 13%, while UBS has a "neutral" rating but sees an upside potential of 19% from its previous close.
Nomura Cuts Target On Tata Steel
Nomura has a "buy" rating on the stock but has cut its target price to ₹210 from its previous ₹240. This indicates an upside of 13.6% from its previous closing price.
It said the company's Netherlands business' on the company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) is likely to remain positive in the third quarter while the India EBITDA will expand.
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