[Special Stock] "Focus on Momentum Such as Governance Improvement" Hyundai AutoEver Up 3.75%

The stock price of Hyundai AutoEver is on the rise on the 8th. In the securities industry, a report has been released that raised the target price, focusing on factors that could lead to a stock price increase in the second half of the year, such as improvements in Hyundai Motor Group's governance structure and earnings expectations.

As of 10:34 a.m. on the same day, Hyundai AutoEver was trading at 176,900 KRW, up 6,400 KRW (3.75%) compared to the previous trading day.

On the same day, Daishin Securities raised the target price for Hyundai AutoEver by 10% from the previous level to 220,000 KRW. The buy rating was also maintained. Researcher Kim Gwiyeon of Daishin Securities said, "Expectations for improvements in the group’s governance structure, software (autonomous driving and process automation), and earnings expectations due to cost settlements will continue to drive the stock price up. Although the stock price premium remains, considering the momentum to be reflected in the stock price in the second half of the year, it is still necessary to approach from a buying perspective."

Researcher Kim added, "System Integration (SI) sales, which had slowed due to seasonal effects, are expected to recover to around 277.1 billion KRW in the second quarter of this year," and "IT outsourcing and vehicle software businesses are estimated to have continued their growth trend with a 12% increase compared to the same period last year. The solid growth is expected to continue, making it feasible to achieve the mid-to-long-term guidance (50 trillion KRW in sales by 2027)."