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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘Hyundai Motor has reached target price’

  • PUBLISHED :March 23, 2017 - 15:44
  • UPDATED :March 23, 2017 - 15:44
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[THE INVESTOR] Hyundai Motor’s stock price has reached the target price, said Goldman Sachs on March 22, lowering its recommendation to “neutral.”





The global investment bank released a report two days earlier stating that the route for the automaker’s governance overhaul is becoming clear which will propel the stock price rise. This contributed to an 8.63 percent spike in its stock price. Boosted by the upsurge, Hyundai Motor became the country’s second largest company by total market value. 

Goldman Sachs analyzed that since Feb. 6 when it has added Hyundai to the recommendation list, the car company’s stock price has increased by 25 percent. Its target price was 165,000 won and Hyundai Motor’s closing price on March 22 was 170,000 won.

It remained firm in its belief in the governance restructuring, saying that it is not about “whether” but about “when,” adding that the auto company and not Hyundai Mobis is likely to be the holding company. 

By Hwang You-mee (glamazon@heraldcorp.com)

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