[Click eStock] Hyundai Motor, Awaiting Upcoming Momentum... "Investment Opinion: Buy"

[Asia Economy Reporter Lee Seon-ae] Daishin Securities on the 25th newly issued an investment opinion of 'Buy' and a target price of 300,000 KRW for Hyundai Motor Company.

The target price was calculated by applying a price-to-earnings ratio (PER) of 14 times (the 2021 average of top-tier competitors in Japan and the US) to the 2021 earnings per share (EPS).

Hyundai Motor's operating profit for this year is expected to be 7.4 trillion KRW. Issues that can provide momentum going forward include Genesis sales volume and electric vehicle sales.

First, sales of the Genesis GV80 in North America, sales of the GV70 domestically and in North America, and the launch of the new Ioniq 5 equipped with the dedicated electric vehicle platform E-GMP are expected to accelerate. According to various media reports, the response to the GV80 in the US has been very positive, and the reaction to the Ioniq 5 equipped with E-GMP is also quite favorable. Through the launch of the Ioniq 5, BEV competitiveness is strengthened, and a stepwise increase in corporate value is expected along with advancements in electric vehicle platform technology.

Researcher Lee Seung-hwan of Daishin Securities explained, "Hyundai Motor is currently conducting strategic collaborations with many companies related to the future automobile industry and simultaneously internalizing technology, so it is expected to lead the automobile industry in the future."