0309 GMT - HD Hyundai Electric may have difficulty improving its profit margin due to slowing contract wins in the U.S., which accounts for two-thirds of its backlog of orders, Nomura analyst Siwoo Kim writes in a note. The South Korean electrical-equipment maker witnessed orders from its U.S. clients fall for the first time in 1Q, Kim says. The company's business expansion into Europe and the Middle East is unlikely to grow its margin due to lower average selling prices, he adds. Nomura downgrades its rating on the stock to neutral from buy and cuts its target price by 9.9% to KRW327,000, citing new U.S. tariffs. Shares are 0.5% higher at KRW302,500. (kwanwoo.jun@wsj.com)

(END) Dow Jones Newswires

April 22, 2025 23:09 ET (03:09 GMT)

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