Morgan Stanley sets Hyundai
$HYUD (+0%)
$005380 to "overweight" and sees resilience to US tariffs

Morgan Stanley $MS (+1,17%) resumed coverage of Hyundai Motor with a positive rating, stating that the automaker is better positioned to survive US trade tariffs than most of its global peers.

MS gave Hyundai an "overweight" rating with a price target of 300,000 won, representing 37% upside from the stock's current price level.

The positive rating comes against the backdrop of a sharp decline in Hyundai's share price from recent highs. However, MS analysts explained that most of the negative aspects of Hyundai are already priced into the correction.

"We believe the company's product mix and geographic footprint offer relatively better profit/margin protection compared to its global peers," the MS analysts wrote in a note.

MS also cited that the recent listing of Hyundai's Indian unit, Hyundai Motor India, was a catalyst for the stock.