HSBC initiated its coverage of Ather Energy with a buy recommendation and a target price of Rs 450. Analysts believe it’s a good company which is in a tough industry. They said that Ather’s product quality, technology leadership and distribution expansion should drive its market share in a tough market. EV penetration remains low, but they think the stock price will be driven by its relative performance, not industry growth.UBS maintained its sell recommendation on Tata Motors with a target price of Rs 690. Analysts said media reports indicated that the Iveco Group is near to selling its commercial trucking business to Tata Motors. If true, Tata Motors may have to spend over Euro 1.5 billion, based on Iveco’s valuation. The price includes the mandatory open offer that would be triggered under local regulations where the transaction will take place.Jefferies maintained its buy rating on L&T with the target price raised to Rs 4,230. Analysts said L&T April-June EBITDA (earnings before interest, taxes, depreciation, and amortisation) of 7% was ahead of expectations as execution was higher. The company’s 33% annual rise in order flow puts it in a comfortable position to meet guidance. They also feel that higher contribution from L&T’s hydrocarbon business gives comfort that the company’s margin has some potential to go up.Morgan Stanley maintained its underweight rating on Asian Paints with the target price at Rs 1,909. Analysts feel that the company has its focus on driving growth while the current competitive intensity in the sector would persist. They said there were early green shoots in demand which was visible in urban markets. However, in the near term, volume and value growth are expected to be in single-digits. They also said that the demand trends in July were similar to the ones seen during the April-June quarter.CLSA maintained its hold rating on Piramal Enterprises with the target price hiked to Rs 1,200 from Rs 1,030 earlier. The company’s business seems to be steady but some red flags are emerging. Its assets growth was strong but MSME and small ticket loans against property are the emerging stress areas. The company reported sequentially weaker operating profit but lower credit cost supported its net profit. Analysts said the unsecured MSME and used car finances were the problem areas for the company.(Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.)