[Click e-Stock] "Robotis Expected to Increase Actuator Production... Target Price Raised"

Daol Investment & Securities: "Robotis Target Price Set at 435,000 Won"

On May 7, Daol Investment & Securities raised its target price for Robotis from 3.4 million won to 4.35 million won, maintaining its 'Buy' investment opinion, citing an expected increase in actuator (a device that controls the movement of robots) production in the second half of the year.

Oh Jeong-ha, a researcher at Daol Investment & Securities, stated, "With the new plant in Uzbekistan beginning operations in the second half, the annual production volume of actuators is expected to increase by approximately 67% compared to the previous year. Despite the burden of proactive capacity expansion, we expect mass-production demand for humanoids in the second half to coincide, leading to a full-fledged growth in performance." He added, "Although there is a possibility of short-term profitability decline during the initial mass production of the new actuator, the DynamixelQ, we believe that in the current phase, securing market leadership is more important."

Daol Investment & Securities forecasted Robotis' sales for this year at 80 billion won (up 105% year-on-year) and operating profit at 15 billion won (up 400%). The company also projected that revenue from new businesses based on hardware and data sales will begin to be reflected from next year.

Last month, Robotis unveiled the DynamixelQ and a general-purpose humanoid 'AI Sapience' developed based on this technology. Regarding this, Oh commented, "This not only proves the actuator's performance but also demonstrates a comprehensive understanding of humanoid systems overall. We view this as a factor that enhances the visibility of new business expansion."

He continued, "The previous target price was based on the company's valuation for 2026, but we have now shifted to a 12-month forward earnings estimate. The faster-than-expected visibility of earnings growth, compared to valuation, served as the basis for raising the appropriate target price," he added.

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