[Featured Stock] Hyundai Rotem Hits 52-Week High on Expectations of Additional K2 Tank Exports

Shares of Hyundai Rotem hit a new 52-week high during the session amid expectations of additional exports of the K2 tank.

As of 10:31 a.m. on the 17th, Hyundai Rotem was trading at 66,500 won, up 3.74% (2,400 won) from the previous trading day. Hyundai Rotem's stock price has been on an upward trend for five consecutive trading days since the 11th.

Expectations for the second contract of the K2 tank with Poland pushed the stock price higher. The securities industry also maintained a positive outlook on Hyundai Rotem and raised its target price. Korea Investment & Securities raised Hyundai Rotem's target price by 29.5% to 79,000 won on the same day. Mirae Asset Securities also increased Hyundai Rotem's target price by 20% to 78,000 won.

Jang Nam-hyun, a researcher at Korea Investment & Securities, said in a report, "The second contract for the Polish K2 tank is expected to be signed within this year," and "The second contract will include K2PL units, adding options and additional contracts for affiliated tank units. The amount of the second contract will exceed that of the first contract (4.5 trillion won)."

This content was produced with the assistance of AI translation services.