Hyundai Motor Maintains Buy Rating, KRW 650,000 Target Despite Q2 Miss on July 24

According to iM Securities, Hyundai Motor maintained its Buy investment rating and KRW 650,000 price target on July 24, despite the company's Q2 earnings falling below market consensus. Analyst Lee Sang-soo noted that the stock rose following earnings despite the miss, suggesting the market views Q2 underperformance as temporary noise. The firm highlighted three value drivers: legacy OEM competitiveness, software-defined vehicle and autonomous driving development, and Boston Dynamics business potential. Hyundai reaffirmed its full-year 2026 earnings guidance despite production disruptions. iM Securities cited the August 26 Corporate Investor Day and planned launches of the Ioniq 3 and Elantra facelift as catalysts for H2 recovery.
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