[Feature Stock] Hyundai Glovis Rises Over 4% on Expectations for BD Stake Value

Shares of Hyundai Glovis are on the rise amid expectations regarding the value of its stake in the American robotics company Boston Dynamics (BD) and the potential expansion of its business.

As of 10:20 a.m. on January 22, Hyundai Glovis was trading at 273,500 won, up 11,500 won (4.39%) from the previous trading day.

On this day, iM Securities stated, "We have reflected expectations for BD's stake value and the future expansion of the robotics logistics business in the multiples (valuation metrics) for Hyundai Glovis." The firm maintained its buy rating and raised its target price from 200,000 won to 325,000 won.

Bae Seho, a researcher at iM Securities, commented, "There are expectations for synergy across the Hyundai Motor Group in relation to the robotics business," adding, "Hyundai Glovis directly holds an 11.25% stake in BD, and it is expected to be responsible for robotics logistics within the group in the future. This justifies a valuation premium compared to other companies in the pure car carrier (PCC) industry."