NH Investment & Securities presented its investment opinion of 'Buy' on Kia with the outlook for company's improved earnings. The target price remained the same at 120,000 won.
The securities expected, "Kia's global sales (delivery) of the completely built units reached about 2.8 million units in 2021, up 15.9% from last year. In 2021, sales and operating profit are expected to increase 14.8% and 118.9%, respectively, to 67.925 trillion won and 4.5241 trillion won, respectively.
The securities forecasted, "Global demand recovery, global expansion of new car effects, and growth momentum in the U.S. and Indian markets are positive factors. There are short-term concerns regarding the supply and demand of automotive semiconductors, but the strong consumer demand can overcome the negative effect of the chip shortage, The company will be benefited from the new car effect throughout the year."
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
