Hyundai stock gains on Goldman Sachs's 'buy' rating
Hyundai Motor India's stock climbed nearly 3% on Tuesday, thanks to a fresh "buy" rating from Goldman Sachs.
The brokerage set a target price of ₹2,600—hinting at a possible 21% upside—on top of the stock's almost 20% gain since January.
Brokerage sees strong product pipeline and EV focus
Goldman Sachs is upbeat about Hyundai because of its new EV launches, growing market share (expected to rise through FY28), and strong product pipeline.
They're projecting Hyundai's sales volumes will grow 8% each year till FY28—well above the industry average.
Hyundai's diverse vehicle portfolio and export growth
Hyundai offers a mix of petrol, diesel, and electric cars that fit well in emerging markets.
While profits dipped recently due to softer domestic sales, exports are up by 13%, helping balance things out.
Goldman also points to more SUVs and export growth as reasons Hyundai could keep improving its margins and keep the stock momentum going.