[Infostock Daily= Reporter An Hoe Hyun] Kiwoom Securities raised its target stock price to 66,000 won and maintained its 'Buy' investment opinion on the 4th, saying Mando's operating rate is rising mainly in South Korea, China and India.
Kiwoom Securities forecast Mando's fourth-quarter operating profit to rise 58.7% year-on-year to 102 billion won.
Hyundai and Kia Motors' production from October to November is estimated to have recovered to last year's level in major regions, although there are regional deviations such as Korea and India.
In addition, Kiwoom Securities analyzed that △the continued strong demand for the Chinese automobile industry, △the local response to the volume of North American electric vehicle manufacturers in China, △the increase of the operation rate of GM and Ford in the U.S. and △the recovery of the normal operation rate of emerging economies plants such as Brazil, Russia, Kia Mexico after the fourth quarter are positive. It is also analyzed that sales growth will continue as demand for advanced driver assistance systems(ADAS) increases, and the increase in volume based on diversification of customer companies will continue after next year.
Reporter An Hoe Hyun ahh@infostock.co.kr
