Hyundai Motor Company Expected to See 15.4% Net Profit Increase Due to U.S. Tariff Relief...GS Group Projected to Lead in Dividend Appeal with 3.1 Trillion Won Operating Profit Next Year [Stocktopia]

[Financial News] On the morning of January 7, here is a summary of major securities firms’ reports.
Hyundai Motor Company is projected to see a 15.4% increase in net profit this year due to reduced U.S. tariffs, raising expectations for improved shareholder returns and potentially leading to a profitability rerating. GS Group is expected to surpass consensus with its fourth-quarter operating profit and achieve 3.1 trillion won in operating profit this year, making it highly attractive for dividends. TLB, a printed circuit board (PCB) manufacturer specializing in memory semiconductor substrates, is forecast to post an 86% jump in operating profit this year, driven by increased shipments of high-value server products.
◆Hyundai Motor Company (005380)― Hanwha Investment & Securities / Analyst Kim Seong-rae
- Target Price: Not Provided
- Investment Opinion: Not Provided
Hanwha Investment & Securities analyzed that the 15.4% improvement in net profit this year due to U.S. tariff relief will heighten expectations for shareholder returns. Analyst Kim Seong-rae projected Hyundai Motor Company’s Q4 revenue at 49.2 trillion won, up 5.6% year-on-year, with operating profit at 2.7 trillion won, down 4.8%. He noted that as U.S. tariffs are eased to 15%, gradual profit improvement will begin in earnest from this year.
◆GS Group (078930)― BNK Securities / Analyst Kim Hyun-tae
- Target Price: 80,000 won
- Investment Opinion: Buy
BNK Securities expects GS Group’s Q4 refining operating profit to surpass the consensus estimate of 668.8 billion won. Analyst Kim Hyun-tae explained that the main reason for the undervaluation was the overly low consensus due to weak system marginal price (SMP) and falling oil prices. Although profits from power generation subsidiaries and resource development are expected to decline, GS Caltex’s performance is projected to improve year-on-year thanks to high refining margins, with next year’s operating profit estimated at 3.1 trillion won. He also evaluated GS Group as the most attractive for dividends compared to S-OIL and HD Hyundai.
◆TLB (356860)― Meritz Securities / Analyst Yang Seung-soo
- Target Price: 85,000 won (Raised)
- Investment Opinion: Buy
Meritz Securities forecast that TLB’s main product, memory semiconductor substrates, will maintain solid profitability in Q4 as the company successfully passed on the rising costs of key raw materials such as gold and copper. Analyst Yang Seung-soo pointed out that the increased share of high-value product shipments and the start of mass production of 8,000 Mbps DDR5 server products are driving up average selling prices. He also highlighted the visible expansion of next-generation high-value product sales, such as SOCAMM and MRDIMM, as a positive factor.※DDR5The fifth-generation standard for computer memory, DDR5 offers approximately twice the data transfer speed of its predecessor DDR4 and is especially used in AI servers and high-performance computers.※SOCAMMA next-generation low-power memory module standard led by NVIDIA, SOCAMM is smaller and offers higher performance than conventional memory modules.※MRDIMMMRDIMM is a high-performance memory module used mainly in AI servers, offering faster data processing and larger capacity than conventional DDR5 server memory (RDIMM).

sms@fnnews.com Reporter Seong Min-seo Reporter