0510 GMT - Hyundai Motor's shares may have already priced in most investor concerns over potential U.S. tariffs in 2025, Citigroup analyst Paul Hwang writes in a note. The South Korean automaker's stock has declined 27% since July 1, Hwang says. New U.S. tariffs could result in an estimated earnings drag of KRW1.5 trillion, or 10% of Hyundai's projected 2025 operating profit, he notes. The company could also face a tougher EU rule on automotive carbon dioxide emissions, potentially incurring an estimated KRW599 billion penalty, or 0.4% of its annual operating profit, he adds. Citi resumes coverage of the stock with a buy rating and a KRW270,000 target price. Shares are 2.1% lower at KRW212,000. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
December 19, 2024 00:10 ET (05:10 GMT)
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