JPMorgan has maintained an overweight rating on Hyundai with a target price of Rs 2,060, citing a better-than-expected Q4 performance. The stock currently trades at Rs 1,839.70.
The brokerage highlighted that Q4 revenue stood at Rs 179.4 billion, up 2% year-on-year and 3% above estimates. EBITDA margin came in at 14.1%, outperforming JPMorgan and street expectations of 12.1% and 12.2%, respectively.
The beat was primarily driven by higher-than-expected average selling prices (ASPs). However, management has guided for a muted domestic growth environment in FY26, expecting company growth to remain in line with the broader market.
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