Tata Motors CV Shares Soar 5% on Bullish JPMorgan, BofA Calls; Target Rs 475

• Tata Motors CV shares jumped over 5% on December 18 following bullish ratings from JPMorgan and BofA Securities.
• Both JPMorgan and BofA initiated coverage with a 'Buy'/'Overweight' rating and a target price of Rs 475 per share.
• JPMorgan's positive view is driven by expected India CV recovery, pricing discipline, and value-accretive acquisition of Italy-based Iveco.
• BofA anticipates recovery in domestic and European businesses, steady market gains, and a 15% EBITDA CAGR for FY26-FY28.
• The shares, listed at Rs 335 on November 12 after demerger, reached Rs 406.80, their highest since debut.

Why It Matters: Tata Motors CV shares surged due to strong 'Buy' ratings and optimistic growth forecasts from JPMorgan and BofA.