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Investing.com - JPMorgan raised its price target on Hyundai (OTC:HYMTF) Rotem Co Ltd (KS:064350) to KRW270,000 from KRW260,000 while maintaining an Overweight rating on the stock.
The price target increase represents a potential 37% upside from current share price levels, according to the investment bank. JPMorgan’s adjustment follows Hyundai Rotem’s second-quarter 2025 results, which showed sales and operating profit largely in line with market consensus.
The company’s defense business sales came in 16% lower than JPMorgan’s estimates, contributing to an operating profit below the bank’s bullish forecast. Despite this, defense export margins improved quarter-over-quarter to 43%, even with foreign exchange headwinds.
Hyundai Rotem has guided for consistent production levels through the second half of 2025 and into 2026, with no anticipated sales gaps. The company expects continuous order flow from Poland, including EC2 and future projects (EC3-EC5).
JPMorgan cited strong earnings expectations for upcoming quarters, potential upside to the scheduled 31 units for Poland delivery in 2026, and a robust order pipeline as factors supporting continued share price momentum for Hyundai Rotem.
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