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THE INVESTOR
April 04, 2020
Big Reunion

Stocks & Bonds

[EQUITIES] ‘Mando to maintain momentum’

  • PUBLISHED :November 12, 2018 - 13:43
  • UPDATED :November 12, 2018 - 13:43
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[THE INVESTOR] Mando is expected to maintain its growth momentum from increasing new orders and shift to “smart” automobiles, said Buguk Investment and Securities on Nov. 12 maintaining a “buy” recommendation while lowering the target price to 44,000 won (US$38.92) from 57,000 won.




Its revenue in the third quarter rose 3.6 percent on-year to 1.40 trillion won and operating profit came in at 50.1 billion won turning to black from a year ago. Despite dwindling sales in China, growing original equipment supplies to North America and Europe more than compensated, although the operating profit missed market expectations. Its fourth-quarter earnings will noticeably rebound as its US factory begins supplies to General Motors and Ford while manufacturing products for electric vehicles in earnest. In Europe it will start providing new products for BMW and Volkswagen, noted analyst Kim Gyeong-deok.

The total amount of new orders this year will reach 12 trillion won, and its profitability will continue to improve as sales ratio of higher-margin advanced driver assistance systems expands, the analyst forecast.

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

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