[Featured Stock] 'Target Price 85,000' K Car Hits New High for Two Consecutive Days
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[Asia Economy Reporter Ji Yeon-jin] K Car is showing a sharp rise in the early trading session on the 24th. Following the limit-up price recorded the previous day due to Goldman Sachs' buy rating, it has been strong for two consecutive days.
As of 9:38 a.m. on the day, K Car is trading at 38,000 won, up 14.63% (4,850 won) compared to the previous day. During the session, it rose to 39,100 won, setting a new 52-week high.
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The previous day, global investment bank (IB) Goldman Sachs issued a 'buy' rating and a target price of 85,200 won for K Car. Eric Cha, a Goldman Sachs analyst, stated, "The Korean used car market is expected to grow to 48 trillion won by 2030 based on online penetration rates, etc.," adding, "As Korea's online used car trading market is rapidly growing, if K Car steadily increases its market share, it could narrow the market capitalization gap with global peers."
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