iM Securities cuts Hyundai Motor stock target to KRW 600,000

Published on 10/19/2026 at 10:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter revenue was estimated at KRW 45.3 trillion, down 2.70 percent year over year. Hyundai Motor stock faces weaker sales.

Earnings pressure shapes valuation

iM Securities cut its Hyundai Motor target from KRW 650,000 to KRW 600,000 on October 15, 2026.
Third-quarter revenue was estimated at KRW 45.3 trillion, down 2.70 percent year over year.
Hyundai Motor stock was last at KRW 326,000 on October 19, 2026 at 3:30 p.m. KST on KRX.

Hyundai Motor, KR7005380001, Illustration mit AI erstellt.

Hyundai Motor stock faced a lower valuation target after iM Securities cut its price objective from KRW 650,000 to KRW 600,000 on October 15, 2026, according to Financial News. The brokerage kept its Buy rating while pointing to weak third-quarter sales and production disruptions.

Analysts lower earnings targets

iM Securities estimated third-quarter revenue at KRW 45.3 trillion, down 2.70 percent from the same period a year earlier. Operating profit was projected at KRW 2.4663 trillion, a decline of 2.80 percent, while global wholesale sales were estimated at 918,000 vehicles, down 11.50 percent year over year.

The earnings pressure follows a series of target reductions. Financial News reported that Shinhan Securities cut its target from KRW 780,000 to KRW 630,000 on October 12, 2026, citing an estimated third-quarter operating profit of KRW 2.374 trillion, 6.40 percent below the prior-year period.

Three target cuts mark the shift

The recent sequence began on October 6, 2026, when NH Investment & Securities lowered its target from KRW 620,000 to KRW 540,000, according to Financial News. Shinhan followed on October 12 with its KRW 150,000 reduction, and iM Securities made its cut three days later. The common issue was weaker output after labor disruptions and higher cost pressure.

What could improve in the fourth quarter?

iM Securities expects new model launches and production normalization to support the fourth quarter. Its full-year revenue estimate stood at KRW 187.3886 trillion, while operating profit was projected at KRW 10.9481 trillion. The brokerage expects next year's operating profit to rise 16.40 percent to KRW 12.744 trillion, making execution on new vehicles central to the valuation debate.

Stock value and trading context

Hyundai Motor was last at KRW 326,000 on October 19, 2026 at 3:30 p.m. KST on KRX. Its market capitalization was KRW 66.0 trillion on that date, while the 52-week range stood at KRW 241,500 to KRW 783,000. The distance between the latest price and the yearly high keeps the valuation discussion focused on earnings recovery rather than a single target revision.