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Hyundai Motor Group Chairman Chung Eui-sun. (Photo=Hyundai Motor) |
[Alpha Biz= Reporter Kim Minyoung] DB Financial Investment said on the 12th that demand is more stable than expected in major regions such as the US and Europe, and will raise the target price from 270,000 won to 320,000 won. The closing price of the previous day is 241,000 won.
DB Financial Investment expects Hyundai Motor's first-quarter sales to rise 4% year-on-year to 39.4583 trillion won and operating profit to 3.718 trillion won, up 4%, exceeding market expectations.
"We are expected to perform well as the weak won and increased US wholesale sales offset negative factors for gains and losses," DB Financial Investment said. "In particular, the won-dollar exchange rate in March, when overseas wholesale sales and export volume are high, will be weak, which will be a positive factor for performance."
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
