CLSA initiates coverage on Hyundai Motor with ‘Outperform,’ sets target price at ₹2,155

CLSA has initiated coverage on Hyundai Motor with an ‘Outperform’ rating and a target price of ₹2,155, citing the company’s focus on aspirational consumers and a diversified, affordable passenger vehicle (PV) portfolio.

The brokerage highlights Hyundai’s strategic plans for capacity expansion, particularly from the Talegaon plant, which is expected to be operational by FY27, boosting its production capabilities. Despite market challenges, Hyundai aims to sustain a robust 13% EBITDA margin, underpinned by its strong operational efficiencies.

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CLSA also projects a 13% earnings CAGR for Hyundai Motor over FY25-27, supported by its consistent efforts to meet the evolving preferences of Indian consumers and maintain a competitive edge in the automotive market.