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Investing.com - Morgan Stanley (NYSE:MS) upgraded SNT Motiv Co. Ltd (KS:064960) from Equalweight to Overweight on Wednesday, while raising its price target to KRW45,000 from KRW32,000, implying approximately 34% upside potential.
The upgrade reflects Morgan Stanley’s expectation of accelerating revenue and earnings growth beginning in 2026, alongside growing earnings contribution from the company’s defense business segment.
SNT Motiv has struggled to generate meaningful revenue and operating profit growth since 2022, despite solid operations and execution, according to the investment bank’s analysis.
Morgan Stanley noted that both auto parts and defense businesses are positioned to grow through penetration of new orders starting in 2026, potentially changing the company’s growth trajectory.
The firm highlighted that the defense business could contribute more than 35% of total operating profit, suggesting a reevaluation of SNT Motiv may be appropriate given the material re-rating of global defense companies amid heightened national security concerns.
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