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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘Hyundai Mobis recovers in China’

  • PUBLISHED :October 11, 2017 - 15:48
  • UPDATED :October 11, 2017 - 15:48
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[THE INVESTOR] Hyundai Mobis’ sliding profit will be cushioned by the recovering car sales in China, said Eugene Investment and Securities on Oct. 11, raising the target price to 300,000 won (US$264.27) from 280,000 won and maintaining a “buy” recommendation. 




Sales of Hyundai Motor and Kia Motors have grown since they rolled out new models in China last month, and will remain on an upturn, said analyst Lee Jae-il.

The operating profit of Hyundai Mobis has been sliding for the last three consecutive quarters, but the fourth quarter will have a low baseline due to strikes in domestic factories and slow sales in China, forecast the analyst. 

Its third-quarter revenue will fall 2.3 percent on-year to 8.5 trillion won and operating profit by 15.7 percent to 608 billion won, but the decline will be less sharp than before, said Lee. Although struggling sales of Hyundai and Kia will dent its profits, it will show definite signs of improvement from the third quarter, he added.

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

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