Aug 12, 2011
Honda de Mexico (NYSE:HMC), Honda's production and sales company in Mexico, announced that it will build an automobile plant for production of fuel-efficient subcompact vehicles for the Mexican and North American markets.
Honda will invest approximately $800 million to build the plant, which is scheduled to begin operation in 2014. The company is expected to hire 3,200 associates at its full annual capacity of 200,000 units; the plant will boost Honda's capital investment in its North American operations to nearly $21 billion.
Honda Motor (NYSE:HMC) has a potential upside of 37.5% based on a current price of $33.59 and an average consensus analyst price target of $46.2.
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