[Market Focus] Hyundai GF Holdings Rallies for 8 Consecutive Days... Hits Record High

Hyundai GF Holdings has continued its rally for eight consecutive days, maintaining its streak of record highs.

As of 9:32 a.m. on May 21, Hyundai GF Holdings was trading at 6,950 won, up 100 won (1.46%) from the previous day. During the session, the price rose to 6,960 won, marking a new 52-week high.

Expectations for an increase in corporate value appear to have served as the driving force behind the stock's rise. On this day, IBK Investment & Securities stated that further growth in corporate value is possible for Hyundai GF Holdings and raised its target price from 7,000 won to 8,500 won. The investment opinion was maintained at 'Buy.' Nam Sung-hyun, a researcher at IBK Investment & Securities, explained, "The target price adjustment was made due to changes in earnings estimates and changes in the ownership ratio of major subsidiaries." He added, "Hyundai GF Holdings continues to expand its ownership in key subsidiaries, and as these subsidiaries buy back and cancel their own shares, the company's control is strengthening and dividend resources are increasing. Therefore, there is a high possibility that the corporate value of Hyundai GF Holdings will continue to rise."

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