[EQUITIES] ‘Hyundai Mobis to enjoy market domination’
[THE INVESTOR] Hyundai Mobis’ revenue will increase due to the monopolistic business structure, said Samsung Securities on June 19, raising the target price to 340,000 won (US$301.02) from 290,000 won.
Its stock price will rise on the back of rising sales in environment-friendly parts and strong performance of after-sales service division, said analyst Im Eun-yeong.
The eco-friendly auto parts sales will grow to 2.3 trillion won by 2020 from 2016’s 620 billion won, and after-sales service sector will remain strong as higher ratio of electronic auto parts are raising the demand for genuine parts, forecast the analyst.
Hyundai Mobis will gain the most as it dominates the after-sales service market following the commercialization of self-driving vehicles, added Im.
By Hwang You-mee (email@example.com)