Hyundai Motor India is making its stock market debut today and has received positive ratings from global brokerage firms Nomura and Macquarie. Nomura has given the stock a buy rating with a target price of ₹2,472, suggesting a potential upside of 26%. Macquarie also initiated coverage with an outperform rating and a target price of ₹2,235, indicating a possible 14% gain.
Here are the insights from the two firms:
Nomura: Buy Rating | Target Price: ₹2,472
Nomura believes Hyundai Motor is well-positioned for growth due to its focus on style and technology. The brokerage highlights the ongoing trend of premiumization, which is expected to drive high-quality growth for the company. With only 36 cars per 1,000 people in India, there is significant room for expansion in the market. Hyundai’s plans for capacity expansion in the second half of the year and the introduction of several new models, including four electric vehicles (EVs) in the next few years, are seen as key factors for future success.
Macquarie: Outperform Rating | Target Price: ₹2,235
Macquarie also initiated coverage on Hyundai Motor with an outperform rating. The firm notes that the company is focused on premium passenger vehicle growth. They believe Hyundai deserves to trade at a higher price-to-earnings (PE) ratio compared to its competitors. Macquarie points out that Hyundai’s market share in core segments has stabilized or improved from recent lows, and it has a strong portfolio mix and premium market positioning. The company’s capabilities in powertrain options and potential market share growth are additional positives.
Overall, both brokerages see strong growth potential for Hyundai Motor in the Indian market, marking a positive outlook for investors.
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