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Downgrade Alert for Tata Motors (TTM)

By David Diaz

Tata Motors (NYSE:TTM) was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $32.22 on volume of 4.0 million shares, above average daily volume of 1.2 million.

Tata Motors has overhead space with shares priced $32.22, or 6.6% below the average consensus analyst price target of $34.50. The stock should discover initial support at its 50-day moving average (MA) of $28.09 and subsequent support at its 200-day MA of $27.29.

Tata Motors share prices have moved between a 52-week high of $43.38 and a 52-week low of $20.00 and closed yesterday at 61% above that low price at $32.22 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.8% while the 200-day MA has remained constant.

Tata Motors Limited manufactures cars and commercial automotive vehicles in India. The Company designs, manufactures and sells heavy commercial, medium commercial and small commercial vehicles including trucks, tankers, vans, buses, ambulances and minibuses. Tata also manufactures small cars and sports utility vehicles.

SmarTrend is tracking the current trend status for Tata Motors and will alert subscribers who have TTM in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades tata motors

Ticker(s): TTM