The stock of Tata Motors Limited (ADR) (NYSE:TTM) gapped up by $0.06 today and has $67.17 target or 68.00% above today’s $39.98 share price. The 8 months technical chart setup indicates low risk for the $25.09 billion company. The gap was reported on Oct, 1 by Barchart.com. If the $67.17 price target is reached, the company will be worth $17.06 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 1.70% or $0.67 on September 30, hitting $39.98. About 1.20M shares traded hands. Tata Motors Limited (ADR) (NYSE:TTM) has risen 79.85% since February 29, 2016 and is uptrending. It has outperformed by 69.42% the S&P500.
Tata Motors Limited (ADR) (NYSE:TTM) Ratings Coverage
Out of 5 analysts covering TTM Tech (NYSE:TTM), 2 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 40% are positive. TTM Tech has been the topic of 8 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Bernstein downgraded Tata Motors Limited (ADR) (NYSE:TTM) on Friday, September 9 to “Mkt Perform” rating. The rating was upgraded by Bernstein on Tuesday, November 3 to “Outperform”. The stock has “Hold” rating given by Zacks on Friday, August 14. On Monday, August 10 the stock rating was upgraded by Stifel Nicolaus to “Hold”. The rating was downgraded by Credit Suisse on Monday, June 27 to “Neutral”. The stock of Tata Motors Limited (ADR) (NYSE:TTM) has “Sell” rating given on Monday, November 23 by Goldman Sachs. The firm has “Buy” rating by Stifel Nicolaus given on Monday, January 11. The stock of Tata Motors Limited (ADR) (NYSE:TTM) has “Buy” rating given on Thursday, August 6 by Needham.
According to Zacks Investment Research, “Tata Motors is India’s leading automotive manufacturer.”
More important recent Tata Motors Limited (ADR) (NYSE:TTM) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on July 12, 2009, also Quotes.Wsj.com published article titled: “DOW JONES, A NEWS CORP COMPANY”, Investorplace.com published: “Why Celator Pharmaceuticals Inc (CPXX), Tata Motors Limited (ADR) (TTM) and …” on May 31, 2016. More interesting news about Tata Motors Limited (ADR) (NYSE:TTM) was released by: Investorplace.com and their article: “Paris Motor Show 2016: 5 Hottest Cars to Watch” with publication date: September 29, 2016.
TTM Company Profile
Tata Motors Limited, incorporated on September 1, 1945, is an automobile company. The Firm is engaged in manufacture of motor vehicles. The Company’s divisions include automotive activities and all other operations. The Firm is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. The Firm markets its commercial and passenger vehicles in various countries in Africa, the Middle East, South East Asia, South Asia, Australia, and Russia and the Commonwealth of Independent States countries. The Firm operates in over 160 countries across the world.
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