JPMorgan Upgrades Tata Technologies: Stock Rises Amid Recovery Hopes After 54% Drop

• Tata Technologies stock surged after JPMorgan upgraded its rating from "Underweight" to "Neutral."
• JPMorgan increased the target price from ₹570 to ₹710, indicating a 10% upside, and raised EPS estimates by 2-6%.
• Improved demand for automotive R&D in the European Union, the company's largest market, is a key driver for organic revenue growth.
• Despite the upgrade, the stock is still trading 54% below its peak of ₹1,400, having fallen to a 52-week low of ₹597.
• Market sentiment remains largely negative, with 12 out of 18 analysts recommending 'Sell' despite the recent upgrade.

Why It Matters: JPMorgan's upgrade signals potential recovery for Tata Technologies stock despite past decline and cautious market.