Brokerage Take: BofA on Tata Motors

BofA has maintained a buy rating on Tata Motors with a target price of Rs 1,280.

The global brokerage firm said that the rise in US JLR incentives is not alarming and one should not expect the impact on JLR volumes/ margins to be as disproportionate as being 'feared'. BofA sees risk-reward for the stock favorable with one year view and an upside potential of approximately 30%.