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July 22, 2018

[EQUITIES] ‘Mando positive in long-term perspective’

PUBLISHED : January 11, 2018 - 11:33

UPDATED : January 11, 2018 - 11:33

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[THE INVESTOR] Mando has been slow in the fourth quarter last year but its mid- to long-term outlook is positive, said Hana Financial Investment on Jan. 11, maintaining a “buy” recommendation and 340,000 won (US$317.73) target price.




Both its revenue and operating profit would miss market expectations at 1.54 trillion won and 75.5 billion won respectively, estimated analyst Song Seon-jae. This is mainly because the baseline from the same period the previous year was high while its major client’s shipments to China, Korea and the US were slower than expected, he explained. 

Although the prospects of its major client still remains lower than projected, it has won orders worth 13 trillion won, a record high, last year and supply to China’s Geely will continue to rise fast, forecast the analyst. 

Its revenue from ADAS will remain on a sharp upturn as well, as regulations for mandatory equipment of related products are expanding, and operations in emerging markets including India is expected, added Song.

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

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