Ebest Investment & Securities maintained its target stock price of 64,000 won and its investment opinion of "buy", saying it is laying the groundwork for Halla Holdings to secure long-term growth engines by diversifying its own business.
"The positive performance in the third quarter showed a trend of improvement due to increased contribution to aftermarket, modules and new businesses, recording an operating profit ratio of 3.7%, and much of Mando's sluggish performance could be offset by Halla's improved performance," said Ebest Investment & Securities on the 17th.
Ebest Investment & Securities said, "Halla Holdings' corporate value basically converges on Mando and Halla, but ultimately it has no choice but to reflect the improvement in cash flow through its own business," adding, "It has entered the domestic imported car aftermarket market, and rapid external growth is in sight in a short period of time by expanding to overseas markets such as India.".
"It is also entering the fleet management business, which is linked to car sharing, and is actively diversifying by utilizing its existing business," said Ebest Investment & Securities "The improvement in the operating profit ratio is expected to continue to 5% in 2023 when new businesses are on track.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
