The global brokerages slashed the 12-month target price for Tata Motors as company\u2019s consolidated net profit halved to Rs 2,175 crore on a year-on-year basis for the three months ended March 31, 2018. Despite missing street estimates, the brokerage firms maintained their rating on the automobile major but slashed target price. The decline in profits of Tata Motors was mainly due to fall in UK sales which were down 12.4 percent in the quarter. the shares of Tata Motors reached a high of Rs 307.6 and touched a low of Rs 284.10 today implying a downward change of over 8 percent. At the time of reporting, the shares of Tata Motors were trading at Rs 289.50 down nearly 7 percent at NSE. CLSA: The global brokerage maintains a \u2018sell\u2019 rating cut its target price to Rs 295 from Rs 330 earlier implying a downside of 10 percent. The brokerage has cut FY19-20 EPS estimates by 7-8 percent. The margins for JLR over FY19-21 is muted, the brokerage says. Jefferies: The global brokerage maintains a \u2018buy\u2019 rating on Tata Motors but cut its 12-month target price to Rs 440 from Rs 510 earlier implying \u00a0a downside of 13 percent. The brokerage also says that the near-term demand outlook for JLR remains challenging. Morgan Stanley: The global brokerage maintains an \u2018equal-weight\u2019 rating on Tata Motors post Q4 results but slashed its 12-month target price to Rs 339 from Rs 407 earlier implying a downside of 16 percent. Even though the stocks look cheap, they lack an upside trigger, says brokerage. The brokerage also cut 12-month target for Tata Motors DVR to Rs 220 from Rs 228 per share earlier. The net sales of Tata Motors were up over 18 percent y-o-y to Rs 91,279 crore, with strong contributions from domestic and JLR volumes and foreign exchange gains. The revenues from JLR were up 3.8 percent. On account of broad based volume growth of 34 percent, the revenues from Tata Motors standalone grew 45.3 percent. The commercial vehicle segment volumes were up 34 percent and the passenger volumes grew 35 percent during the quarter.