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TATASTEEL Share Price Forecast - Consensus
No. of reports in last year
7
No. of analysts
4
Average Consensus Forecast
416.29
Consensus Potential
20.06%
TATASTEEL Price Target Potential
| Brokerage | Target | Potential |
|---|---|---|
| Edelweiss | 335 | 4.66% |
| Prabhudas Lilladher | 350 | 8.74% |
| ICICIdirect.com | 450 | 29.02% |
| Karvy Stock Broking | 489 | 34.68% |
TATASTEEL Buy or Sell - FrontPage Forums
2 Users have submitted 2 trade ideas of Rs. 182,859.13 for TATASTEEL
100% Bullish
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TATASTEEL Ratings
Long term TATASTEEL rating by FrontPage users
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4.1/5 (13 Ratings)
7 TATASTEEL share price target reports by brokerages below. See what is analyst's view on TATASTEEL share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
TATASTEEL Share Price Target
TATASTEEL Share Price Target - Broker Reports - 2020
Edelweiss
22-Apr-20
Price @ Call: 265.22
Target: 335
BUY
Tata Steel’s (TSL) Q4FY20 operating performance was marred by COVID19 woes. Key highlights: i) Domestic volume fell 15-19% across business segments, though Tata Steel Europe (TSE) fared better. ii) Inventory build-up evident. and iii) Possible uptick in exports volume (fetching lower realisation) is likely to impact profitability. Going ahead, we expect sustained near-term pressure on volumes and realisations owing to lockdown woes and progressively lower export prices, respectively. Maintain ‘BUY’ with TP of INR335, implying 7.0x June 2021E EBITDA.
Prabhudas Lilladher
8-Feb-20
Price @ Call: 473.6
Target: 350
REDUCE
Street is excited on the price hikes undertaken over last couple of months, suggesting bottoming of margins. However, the improvement in margins is significantly lower in comparison to consensus expectation. We would avoid to play the theme of bottomed-out margin through TATA due to over- stretched debt levels (Net debt/EBITDA of 5.0x), diminishing mining margins (due to expiry of chrome ore mines) and weak overseas asset portfolio. Impacted by high debt, TATA is compelled to delay its attractive expansion of 5mtpa at Odisha. In the backdrop of lower margins in domestic and European operations, we cut our EBITDA estimates for FY21E by 3%. Driven by structural issues on B/S and weak outlook on steel prices, we reiterate Reduce with TP of Rs350 (earlier Rs400), EV/EBITDA 5.5x FY21e.
Edelweiss
10-Jan-20
Price @ Call: 487
Target: 590
BUY
Tata Steel (TSL) reported Q3FY20 operating performance slightly better than our estimates. Key highlights: i) Restocking by dealers led to a volume uptick. ii) We expect exports to stay elevated. iii) At Tata Steel Europe (TSE), sales volume/spreads are expected to stay under pressure. Like its peers, TSL’s spreads for both domestic and overseas operations are likely to bottom out in Q3FY20. Going ahead, we believe a price uptick in both domestic and exports markets would aid margins. Maintain ‘BUY’ with a TP of INR590, implying an exit 5.7x June 2021E EBITDA.
TATASTEEL Share Price Target - Broker Reports - 2019
Prabhudas Lilladher
7-Nov-19
Price @ Call: 398.87
Target: 350
REDUCE
Tata Steel (TATA) reported consolidated EBITDA 21%/11% below ours/consensus estimates due to weak operating performance in European operations and losses in domestic subsidiaries. While, standalone earnings came in-line with our expectation. Due to weak margins in TSE and cut in profitability of TATA Steel BSL Ltd (erstwhile Bhushan steel), we cut our EBITDA estimates for FY20E/FY21E by 1.4%/2.3%. Admittedly, spreads have bottomed-out. However, recovery in spreads would be subdued in the backdrop of weak demand, high uncertainty (due to trade wars) and sizeable overcapacity (both in global and domestic). Incrementally, TATA’s margins would be lower by Rs500-550/t due to expiry of chrome ore mines by Q4FY20. Given the overleveraged B/S (Net debt/EBITDA of 4.5x) and weak earnings outlook, we reiterate Reduce with TP of Rs350, EV/EBITDA 5.6x FY21e.
ICICIdirect.com
23-Sep-19
Price @ Call: 377.61
Target: 450
BUY
Karvy Stock Broking
12-Aug-19
Price @ Call: 367.68
Target: 489
BUY
Tata Steel Limited has started the process of consolidating India operations. In Europe, the company is implementing a transformation plan which aims to reduceoperating costs, rationalize capex and working capital to increase overall cash flow. The company is expected to benefit from increased government spending and efforts of addressing liquidity crunch. The stock is currently trading at 362 of EV/EBITDA 5.0x of FY21EBITDA. We have valued the stock at 1SD and have arrived at downwardly revised TP of Rs. 489 retaining “BUY” rating on stock with potential upside of 35%. Key risks to valuation are further deepening of trade war and steeper slowdown in domestic economy.
Prabhudas Lilladher
8-Aug-19
Price @ Call: 381.8
Target: 350
REDUCE
Europe does the damage; De-rating to aggravate
Despite sharp increase in iron ore prices, steel prices softened by US$20-25/t in last couple of months. In spite of serious trade restrictions imposed on its imports by various countries, China acted in a disciplined manner with reduced export intensity and stable domestic demand. On the contrary, RoW (ex-China), the so called disciplined and earnings focused markets witnessed sharp contraction in demand and prices. This signifies structural downturn in steel sector on the backdrop of underlying weakness in RoW’s demandand peaked-out stimulus fed temporary acceleration in Chinese demand. Given the overleveraged B/S (Net debt/EBITDA of 4.5x) and weak earnings outlook, we reiterate Reduce with TP of Rs350, EV/EBITDA 5.5x FY21e.
Despite sharp increase in iron ore prices, steel prices softened by US$20-25/t in last couple of months. In spite of serious trade restrictions imposed on its imports by various countries, China acted in a disciplined manner with reduced export intensity and stable domestic demand. On the contrary, RoW (ex-China), the so called disciplined and earnings focused markets witnessed sharp contraction in demand and prices. This signifies structural downturn in steel sector on the backdrop of underlying weakness in RoW’s demandand peaked-out stimulus fed temporary acceleration in Chinese demand. Given the overleveraged B/S (Net debt/EBITDA of 4.5x) and weak earnings outlook, we reiterate Reduce with TP of Rs350, EV/EBITDA 5.5x FY21e.
Karvy Stock Broking
21-May-19
Price @ Call: 483.15
Target: 618
BUY
Tata Steel Limited and Thyssenkrupp AG of Germany had signed definitive agreements in June 2018 to combine their business in Europe to create a 50:50 joint venture company which could have become second largest steel company in the European continent. However, European Commission expressed concerns and objections on automotive steel and packaging steel. The managements of these companies went back to EC with remedies which were found not sufficient. Expecting the deal to be rejected by European Commission, the management of these two companies decided to call off their proposed joint venture on 10th May 2019. With this development, Tata Steel plan to deleverage and de-consolidate business will get adversely impacted. However, the recent growth in company steel production has been led by strong domestic demand ably supported by moderate recovery in European operations. We have valued the stock on EV/EBITDA 6.3x of FY21E EBITDA for the downwardly revised TP of Rs. 618 with potential upside of 28%.
Karvy Stock Broking
30-Apr-19
Price @ Call: 548.92
Target: 671
HOLD
Going forward, we expect demand from steel consuming sectors to pick up with the conclusion of elections and improvement in liquidity. Besides, focus on high margins automotive sector and making inroads into the oil and gas segment would be margins and realization driver. We remain positive on Tata Steel Limited as it is insulated from current surge in Iron Ore prices where the company has self sufficiency. Retaining our TP of Rs. 671 of ICR (Initial Coverage Report), we have valued the stock at 1 yr forward EV/EBITDA 4.7x of FY21E EBITDA which gives potential upside of 23%. However, key risks to valuation could be weakening of steel demand and lingering of trade war.
ICICIdirect.com
30-Apr-19
Price @ Call: 548.92
Target: 635
BUY
For Q4FY19, while domestic prices declined QoQ, on an absolute EBITDA basis, Tata Steel’s standalone operations reported a decent performance driven by a healthy volume push. Since February 2019, domestic steel prices have inched upwards, auguring well for the company. We continue to value the company on an SOTP basis and arrive at a target price of Rs 635. We maintain our BUY recommendation on the stock.
Prabhudas Lilladher
26-Apr-19
Price @ Call: 510.1
Target: 685
BUY
The stock currently trades at 2.6x FY19 BV (12.8x FY19e EPS of Rs 25.02) and 2.1x FY20 BV (10.7x FY20e EPS of Rs 29.85). With its focus on affordable housing loans and significant total network expansion (189 in 9MFY19; 16 opened since FY18), we expect its loan book to grow by 15.0% in FY20. GOI’s CLSS (Credit Link Subsidy Scheme) would also be a big boost as ~60% of its incremental loans are towards LIG (low income group) and 30-35% to MIG-1 (Mid-income group with salary from Rs 6 lacs up to Rs 12 lacs). NII growth would slow down to 5.3% for FY19, but pick up to 21.2% in current fiscal. Return ratios would see an improvement – ROA and ROE of 2.0% and 22.1% respectively in FY20. Weighing odds, we assign ‘buy’ rating on the stock with target price of Rs 417 (previous target Rs 432) based on 2.8x FY20e BV for a period of 9- 12 months; earnings expected to grow at CAGR 14.8% during FY18-20 period.
Edelweiss
23-Apr-19
Price @ Call: 535.3
Target: 600
BUY
Tata Steel BSL’s (TS-BSL) Q4FY19 EBITDA of INR7.8bn came in line with our estimate. Key highlights: 1) shipments rose 23% YoY to 1.1mt primarily on higher exports; and 2) EBITDA/t slid 17% YoY to INR6,847 due to flat realisation amidst destocking & higher coking coal costs. We expect the demand headwinds to sustain on weakness in auto sector and the company’s EBITDA/t to stay range-bound between INR6,400 and INR6,800 through to FY21E due to subdued realisation despite TS-BSL’s cost-optimisation initiatives . Maintain ‘BUY’ on Tata Steel (TSL) with TP of INR600 on 6.6x September 2020E EBITDA.
ICICIdirect.com
12-Apr-19
Price @ Call: 535.72
Target: 625
BUY
We remain positive on Tata Steel on the back of increasing focus on higher margin domestic operations. Tata Steel’s standalone operations benefit from its integrated operations thereby clocking higher EBITDA/tonne vis-à- vis its domestic peers. After the recent correction, since the start of February 2019 both domestic as well as global steel prices have moved upward, auguring well for Tata Steel. Furthermore, with respect to the potential European JV so as to allay EU concerns, both ThyssenKrupp AG and Tata Steel have submitted concessions to European Union regulators in an effort to win antitrust approval for their steel joint venture. Both Tata Steel and ThyssenKrupp have submitted comprehensive solutions for the potential joint venture. The European Union is expected to review the latest set of proposals and announce its decision by June 5. We await the final outcome of the same. Hence, it remains a key monitorable. We introduce FY21 estimates and roll over our valuations. Valuing the stock on an SoTP basis, we arrive at a target price of Rs 625, with a BUY recommendation on the stock.
ICICIdirect.com
11-Feb-19
Price @ Call: 469.55
Target: 550
BUY
Motilal Oswal
11-Feb-19
Price @ Call: 469.55
Target: 370
SELL
Investec Securities
11-Feb-19
Price @ Call: 469.55
Target: 739
BUY
TATASTEEL Share Price Target - Broker Reports - 2018
Edelweiss
11-Dec-18
Price @ Call: 496.86
Target: 720
BUY
Edelweiss
30-Nov-18
Price @ Call: 530.78
Target: 720
BUY
Prabhudas Lilladher
14-Nov-18
Price @ Call: 589.15
Target: 840
BUY
Prabhudas Lilladher
4-Oct-18
Price @ Call: 581.25
Target: 780
BUY
Centrum
24-Sep-18
Price @ Call: 611.09
Target: 800
BUY
ICICIdirect.com
17-Aug-18
Price @ Call: 568.1
Target: 675
BUY
JM Financial
14-Aug-18
Price @ Call: 574.12
Target: 745
BUY
Motilal Oswal
14-Aug-18
Price @ Call: 574.12
Target: 632
NEUTRAL
Prabhudas Lilladher
14-Aug-18
Price @ Call: 569.2
Target: 770
BUY
Investec Securities
14-Aug-18
Price @ Call: 569.2
Target: 730
BUY
ICICIdirect.com
3-Jul-18
Price @ Call: 560.95
Target: 700
BUY
Edelweiss
2-Jul-18
Price @ Call: 567.85
Target: 903
BUY
Prabhudas Lilladher
2-Jul-18
Price @ Call: 567.85
Target: 815
BUY
Kotak Securities
12-Jun-18
Price @ Call: 588.75
Target: 710
BUY
Edelweiss
17-May-18
Price @ Call: 622.05
Target: 903
BUY
Motilal Oswal
17-May-18
Price @ Call: 622.05
Target: 705
BUY
Prabhudas Lilladher
17-May-18
Price @ Call: 622.05
Target: 830
BUY
Motilal Oswal
22-Feb-18
Price @ Call: 640.55
Target: 778
BUY
Investec Securities
19-Feb-18
Price @ Call: 688.3
Target: 895
BUY
Edelweiss
19-Feb-18
Price @ Call: 688.3
Target: 985
BUY
Axis Direct
16-Feb-18
Price @ Call: 695.75
Target: 885
BUY
Motilal Oswal
9-Feb-18
Price @ Call: 681.41
Target: 778
NEUTRAL
Prabhudas Lilladher
9-Feb-18
Price @ Call: 681.41
Target: 835
BUY
TATASTEEL Share Price Target - Broker Reports - 2017
ICICIdirect.com
20-Dec-17
Price @ Call: 702.73
Target: 785
BUY
Prabhudas Lilladher
14-Dec-17
Price @ Call: 682.1
Target: 750
BUY
JM Financial
13-Nov-17
Price @ Call: 691.75
Target: 750
BUY
Axis Direct
6-Nov-17
Price @ Call: 708.9
Target: 795
BUY
HDFC Securities
3-Nov-17
Price @ Call: 709.18
Target: 818
BUY
Edelweiss
31-Oct-17
Price @ Call: 718.8
Target: 950
BUY
Axis Direct
17-Oct-17
Price @ Call: 715.4
Target: 765
BUY
Edelweiss
10-Oct-17
Price @ Call: 697.15
Target: 720
BUY
Axis Direct
6-Oct-17
Price @ Call: 660.2
Target: 765
BUY
Centrum
26-Sep-17
Price @ Call: 640.15
Target: 705
HOLD
HDFC Securities
21-Sep-17
Price @ Call: 687.65
Target: 818
BUY
Axis Direct
21-Sep-17
Price @ Call: 687.65
Target: 765
BUY
Phillip Capital
21-Sep-17
Price @ Call: 687.65
Target: 900
ADD
Edelweiss
21-Sep-17
Price @ Call: 687.65
Target: 720
BUY
Prabhudas Lilladher
21-Sep-17
Price @ Call: 687.65
Target: 750
BUY
Edelweiss
12-Sep-17
Price @ Call: 661.3
Target: 720
BUY
Axis Direct
14-Aug-17
Price @ Call: 596.15
Target: 690
BUY
HDFC Securities
11-Aug-17
Price @ Call: 596.15
Target: 687
BUY
Axis Direct
8-Aug-17
Price @ Call: 600
Target: 690
BUY
ICICIdirect.com
8-Aug-17
Price @ Call: 600
Target: 700
BUY
Edelweiss
7-Aug-17
Price @ Call: 600
Target: 720
BUY
Motilal Oswal
19-Jul-17
Price @ Call: 571
Target: 583
NEUTRAL
Motilal Oswal
20-Jun-17
Price @ Call: 522.93
Target: 451
SELL
ICICIdirect.com
18-May-17
Price @ Call: 484
Target: 550
BUY
Centrum
7-Feb-17
Price @ Call: 473
Target: 410
SELL
Edelweiss
14-Feb-17
Price @ Call: 472
Target: 637
BUY
ICICIdirect.com
8-Feb-17
Price @ Call: 475
Target: 500
HOLD
TATASTEEL Share Price Target - Broker Reports - 2016
Edelweiss
11-Apr-16
Price @ Call: 331
Target: 301
REDUCE
Edelweiss
26-May-16
Price @ Call: 325
Target: 294
SELL
Arihant Capital Markets
27-May-16
Price @ Call: 325
Target: 298
SELL
ICICIdirect.com
26-May-16
Price @ Call: 322
Target: 335
HOLD
Centrum
14-Nov-16
Price @ Call: 426.5
Target: 340
SELL
Edelweiss
16-Nov-16
Price @ Call: 393
Target: 308
REDUCE
Religare
15-Nov-16
Price @ Call: 395
Target: 350
SELL
Motilal Oswal
13-Sep-16
Price @ Call: 374
Target: 241
SELL
Edelweiss
14-Sep-16
Price @ Call: 374
Target: 294
REDUCE
Religare
14-Sep-16
Price @ Call: 373.6
Target: 325
SELL
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TATASTEEL Peer Stocks - Share Price Targets
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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