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DJ Hankook Tire's Earnings May Lift on Market Share Gains in Europe, China -- Market Talk

· 02/08/2021 00:43

0543 GMT - Hankook Tire & Technology may get an earnings support from its likely market-share gains in Europe and China, Nomura says. The Japanese investment bank upgrades the stock's rating to buy from neutral, and raises its EPS forecast for the tire maker by 22% for 2021. Hankook is expected to retain its top brand position in Germany this year, while its penetration into Chinese markets could also deepen. Hankook's solid performances in China and Europe could offset its likely weak performance in the U.S., Nomura says. It raises the stock's target by 47% to KRW53,000. Shares jump 11% to KRW50,000. (kwanwoo.jun@wsj.com)

(END) Dow Jones Newswires

February 08, 2021 00:43 ET (05:43 GMT)

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