Macquarie has maintained its outperform rating on Hyundai and set a target price of Rs 2,100. The current market price of the stock stands at Rs 1,839.70.
The brokerage attributed Hyundai’s Q4 EBITDA beat to a 5% sequential rise in average selling prices (ASPs). The improvement was supported by a combination of price hikes, moderation in discounts, and a favourable product and geographical mix.
Macquarie also noted potential upside from new model launches and enhanced export opportunities going forward.
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