JPMorgan sees Tata Steel shares at Rs 180 mark in a year, here's why 

Global brokerage JPMorgan has maintained its over-weight stance on Tata Steel Ltd with a price target of Rs 180 per share. This amounts to an upside of 20% from the current levels.

The stock gained 0.53% to Rs 151.10 on BSE today. Market cap of the firm stood at Rs 1.88 lakh crore. Total 9.35 lakh shares changed hands amounting to a turnover of Rs 14.23 crore on BSE.

The Tata Group stock has a one-year beta of 1.4, signaling high volatility during the period. The stock is trading higher than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day, 200 day moving averages.

In the last one year, the stock has gained 5%. On the other hand, the stock has risen 10.49% in 2025. Tata Steel shares have rallied 41.41% in two years and gained 16% in three years.

According to JPMorgan, some investors are yet to fully appreciate the potential positive impact of recent developments, such as Germany's infrastructure fund announcement and the sharp increase in European steel spreads.

European steel spreads have risen 18% quarter-on-quarter and over 60% on a spot basis compared to the Q3 average. The global brokerage is of the opinion that these improvements are not yet factored into consensus estimates and sees Tata Steel's European business to reach EBITDA breakeven by Q1 of FY26.

The brokerage has raised its EBITDA per tonne (EBITDA/t) assumptions for Tata Steel's European segment in FY26-27 to $68 and $70 per tonne, respectively, a significant rise from its previous estimates of $19 and $27 per tonne.

The brokerage has upgraded its overall EBITDA projections for FY26-27 by 8-11%.