Hyundai Motor surges as Citigroup raises target price due to robotics technology and easing tariff pressures
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By:格隆汇
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Glonghui, January 7th|Hyundai Motor's stock price once soared by 7.8% to an intraday high. Previously, Citibank raised Hyundai Motor's target price, citing optimism about the company's 2026 sales target and prospects in the robotics business. Given that the commercialization opportunities in the robotics sector are expected to command higher valuation multiples, and with tariff pressures expected to gradually ease starting from the first quarter of next year, Citibank raised Hyundai Motor's target price from 330,000 KRW to 380,000 KRW, while maintaining a "Buy" rating. The institution's research report also mentioned that Boston Dynamics, a subsidiary controlled by Hyundai Motor, released a humanoid robot development roadmap during the 2026 International Consumer Electronics Show (CES). According to Yonhap News Agency, Hyundai Motor executives met with NVIDIA CEO Jensen Huang during this year's CES. Hyundai Motor has set its 2026 global sales target at 4.2 million vehicles, a slight year-on-year increase of 0.5%; among them, sales in the Korean domestic market are expected to decline by 2% year-on-year, while overseas sales are expected to increase by 1% year-on-year. Citibank analysts believe that this sales target is "reasonable."
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