HD Hyundai Electric May Have Difficulty Improving Margin -- Market Talk
Dow Jones
Apr 23
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)
Copyright (c) 2025 Dow Jones & Company, Inc.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.