[Click eStock] "Hyundai AutoEver, Vehicle SW Growth Expected... Target Price Up"

Hyundai Motor Securities on the 10th raised the target price for Hyundai AutoEver from 160,000 KRW to 175,000 KRW.

Hyundai AutoEver's second-quarter sales are expected to reach 741 billion KRW, a 17.6% increase compared to the same period last year, and operating profit is projected to be 36.5 billion KRW, up 27.2%. This is in line with market expectations. The strong external growth is supported by steady growth of 13-14% each in SI and ITO sectors,

while vehicle software (SW) sales are expected to grow rapidly by 32% year-on-year.

In particular, the Level 3 autonomous driving solution will be installed starting with the EV9 GT line launching in the second half of the year, and will subsequently be applied to the G90 MY24, marking the beginning of commercialization. Accordingly, Mobigen's sales are also expected to gain upward momentum.

Hyundai AutoEver researcher Kim Hyun-yong said, "The three sectors of navigation/precise maps, smart factory, and cloud are expected to account for 60% of the company's sales growth over the next four years," adding, "Since the front markets are autonomous driving, EV, and connected cars, these are fields expected to experience explosive growth."

This content was produced with the assistance of AI translation services.