[Click eStock] KoYoung, Earnings Rise Centered on Auto Division... Target Price Lowered

[Asia Economy Reporter Hwang Yoon-joo] Eugene Investment & Securities maintained a 'Buy' rating on Koyoung on the 15th, stating that performance growth will continue this year, mainly in the automotive sector, but lowered the target price from the previous 32,000 KRW to 26,000 KRW.

Park Jong-sun, a researcher at Shinhan Financial Investment, said, "New products such as semiconductor inspection equipment (Meister) and transparent inspection equipment (DPI) account for more than 15% of sales and are expected to drive future performance growth."

Researcher Park analyzed, "As demand for semiconductor inspection equipment increases, the market is expanding into the post-process (Advanced Packaging) sector, and demand for transparent inspection equipment is rising from global EMS and electric vehicle customers in the Americas, so it is expected to make a significant contribution to performance growth in 2022."

The preparation for the entry of the medical surgical robot KYMERO into the U.S. market is also positive.

Researcher Park explained, "Based on KYMERO's domestic references (currently 2 units supplied and over 100 surgical cases), the goal is to enter the U.S. market as early as the second half of next year," adding, "They plan to secure supply references and cumulative surgical cases to pursue FDA NDA (clinical approval application) in the U.S. in 2023."

He added, "The expected first-quarter performance (consolidated basis) is sales of 66.2 billion KRW and operating profit of 11.8 billion KRW, representing increases of 12.6% and 24.7%, respectively, compared to the same period last year, and performance growth is expected to continue."

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