April 24, 2024

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[THE INVESTOR] Deutsch Motors has turned to black and widely beaten second-quarter earnings estimates, said Kyobo Securities on July 20, maintaining a “buy” recommendation and 8,000 won target price.

The car importer rallied sold over 4,000 new cars, its record quarterly sales, propelled by the release of BMW’s fully changed 5 series, said analyst Kim Gap-ho.

Its Deutsch Autoworld, a used import car sales complex, is being constructed, and worries over failing to sell the slots are unwarranted, according to Kim, forecasting that the company’s third-quarter revenue will reach 271.9 billion won with operating profit of 9.7 billion won. It will continue to post record earnings in the next two years, he added.

By Hwang You-mee (glamazon@heraldcorp.com)