Hana Financial Investment maintained its target stock price of 250,000 won and investment opinion "buy" on Hyundai Glovis, saying its main businesses are growing evenly.
"We expect even growth in the logistics, CKD (anti-assembly product) and PCTC (automobile carrier) sectors thanks to production by major customers, an increase in volume and a steady increase in non-affiliate volume," Hana Financial Investment said.
"As we are preparing to expand into eco-friendly businesses such as hydrogen distribution, logistics, infrastructure construction and battery recovery and recycling in the mid- to long-term, related expectations will gradually become a reality," Hana Financial Investment said.
"Additional earnings growth is also expected in the logistics, CKD and PCTC sectors depending on its main customer Kia's expansion of its plant in India and the start of Hyundai Motor's plant in Indonesia," Hana Financial Investment said.
"Hyundai Glovis is preparing for various projects related to the battery and hydrogen economy," Hana Financial Investment said. "Regarding batteries, Hyundai Glovis is conducting demonstration projects for battery lease for electric vehicles and V2G (electric vehicle-strategic network connection), and preparing for battery recovery and recycling business.".
Reporter Lee Ji-sun stockmk2020@gmail.com