Hyundai Motor shares surge 2% after Morgan Stanley and JPMorgan initiate coverage
Hyundai Motor India shares rose by nearly 2% to the day's high of Rs 1,926 on the BSE after Morgan Stanley and JPMorgan initiated coverage.
JPMorgan and Morgan Stanley have initiated coverage on the automaker with an overweight rating, citing its strong growth potential, strategic positioning in the SUV and electric vehicle (EV) segments, and promising valuation metrics.
JPMorgan and Morgan Stanley expect robust returns for investors, setting ambitious target prices of Rs 2,200 and Rs 2,418, respectively, over the next year.
Morgan Stanley: Initiate Overweight | Target Rs 2,418 | LTP Rs 1,880 | Upside 28%
Morgan Stanley has initiated an Overweight rating on Hyundai Motor, with a target price of Rs 2,418, indicating a potential upside of 28% from the current market price of Rs 1,880.
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