The stock of Tata Motors Limited (ADR) (NYSE:TTM) gapped up by $0.69 today and has $60.80 target or 47.00% above today’s $41.36 share price. The 9 months technical chart setup indicates low risk for the $26.19B company. The gap was reported on Oct, 14 by Barchart.com. If the $60.80 price target is reached, the company will be worth $12.31 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%. About 455,601 shares traded hands. Tata Motors Limited (ADR) (NYSE:TTM) has risen 50.74% since March 11, 2016 and is uptrending. It has outperformed by 45.29% 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. The firm has “Buy” rating given on Monday, January 11 by Stifel Nicolaus. The rating was downgraded by Credit Suisse to “Neutral” on Monday, June 27. The firm has “Sell” rating given on Monday, November 23 by Goldman Sachs. Bernstein upgraded Tata Motors Limited (ADR) (NYSE:TTM) on Tuesday, November 3 to “Outperform” rating. The stock of Tata Motors Limited (ADR) (NYSE:TTM) has “Mkt Perform” rating given on Friday, September 9 by Bernstein. Stifel Nicolaus upgraded it to “Hold” rating and $11.0 target price in Monday, August 10 report. On Thursday, August 6 the stock rating was maintained by Needham with “Buy”. On Friday, August 14 the stock rating was downgraded by Zacks to “Hold”.
According to Zacks Investment Research, “Tata Motors is India’s leading automotive manufacturer.”
More 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 the news titled: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. Investorplace.com‘s news article titled: “Why Celator Pharmaceuticals Inc (CPXX), Tata Motors Limited (ADR) (TTM) and …” with publication date: May 31, 2016 was also an interesting one.
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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