Goldman Sachs has initiated coverage on Hyundai with a Buy rating and a target price of ₹2,600, citing the company’s strong positioning to outpace peers over FY27–FY28.
The brokerage believes Hyundai is well-placed to deliver sustained growth driven by the success of its electric vehicle (EV) models and market share gains in emerging markets. It expects Hyundai to benefit from a series of new product launches, which should support a 120 basis points increase in market share over FY25–FY28.
Goldman Sachs projects the automaker’s forward three-year volume CAGR at +8%, ahead of the domestic car industry’s projected +5.3%. The company’s improved SUV and export mix is expected to offset near-term startup costs, while also providing leverage to a potential cyclical upturn in the domestic car market by FY27.
The brokerage sees Hyundai’s diversified portfolio, product innovation, and export momentum as key strengths, positioning it to outperform the broader industry.
Disclaimer: The above views are those of the brokerage. Investors should consult a certified financial advisor before making any investment decisions.
