New Delhi, Feb. 19 -- Tata Motors has been under pressure for seven consecutive months, witnessing a significant stock correction due to concerns over demand for Jaguar Land Rover (JLR) and domestic commercial vehicles. However, global brokerage CLSA has upgraded its rating on the stock, citing favorable valuations and long-term growth prospects.

The brokerage has upgraded Tata Motors from 'Outperform' to 'High-Conviction Outperform,' with a target price of Rs.930, indicating a potential upside of 36 per cent from current levels.

CLSA highlighted that the Tata Group stock has corrected 40 per cent in the past six months, primarily due to weak demand projections for JLR across key global markets, along with sluggish growth in domestic he...