CLSA initiates "Outperform" rating on Hyundai, sets target price of Rs 2,155
CLSA has initiated coverage on the recently listed Hyundai Motor India with an «Outperform» rating and a target price of Rs 2,155, predicting an upside potential of 20.5%, citing the automaker's strong growth prospects and strategic expansion plans.
Describing Hyundai’s positioning as ‘aspirational yet affordable’, the brokerage firm notes that while Hyundai is currently experiencing a period of low growth amid elevated utilization rates, the company's outlook remains promising.
A key catalyst for future growth is expected to be the newly added Talegaon plant, which should begin contributing significantly to capacity from FY27 onwards.
The note further highlights Hyundai's competitive advantages, particularly its superior unit economics and higher incremental return on capital employed (RoCE) compared to industry leader Maruti. This financial efficiency positions Hyundai well in the competitive Indian automotive market.
In a significant development for its electric vehicle strategy, Hyundai is also preparing to launch the e-Creta in the coming months.
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