"30% Cheaper Than Toyota" Hyundai Motor Company Target Price Raised from 470,000 to 640,000 Won... Hanwha Aerospace Co., Ltd. Secures KRW 38 Trillion Export Pipeline [Jutopia]

[Financial News] On the morning of January 20, here is a summary of major brokerage reports.
Analysts noted that despite Hyundai Motor Company’s recent sharp share price rebound, the stock is still trading at a lower level than Toyota Motor Corporation, and that it is time to fully factor in expectations for Hyundai Motor Company’s robotics and autonomous driving business. Hanwha Aerospace Co., Ltd. was assessed as still undervalued after securing an export pipeline worth more than KRW 38 trillion. HL Mando Corporation was evaluated as likely to expand its business scope from supplying components for robotaxis to actuators for humanoids.
◆Hyundai Motor Company (005380)― Daol Investment & Securities Co., Ltd. / Analyst Yu Ji-woong
- Target price: KRW 640,000 (raised from KRW 470,000)
- Investment opinion: Buy
Daol Investment & Securities Co., Ltd. raised its target price for Hyundai Motor Company by 36%, from KRW 470,000 to KRW 640,000, saying it is time to actively reflect higher expectations for the company’s robotics and autonomous driving business. Analyst Yu Ji-woong stated that the commercialization of Boston Dynamics effectively represents the United States securing manufacturing hegemony, and that with Hyundai Motor Group’s market capitalization now ranking third globally, the group has secured a sufficient edge over Toyota Motor Corporation, which ranks second worldwide. He added that despite the recent rebound in the share price, the current price-earnings ratio (PER) is 8.3 times, about 30% lower than Toyota Motor Corporation’s 12.7 times, leaving room for a valuation re-rating.
◆Hanwha Aerospace Co., Ltd. (012450)― Korea Investment & Securities Co., Ltd. / Analyst Jang Nam-hyun
- Target price: KRW 1.8 million (raised from KRW 1.5 million)
- Investment opinion: Buy
Korea Investment & Securities Co., Ltd. raised its target price for Hanwha Aerospace Co., Ltd. by 20%, from KRW 1.5 million to KRW 1.8 million, saying the company remains undervalued given its strong export momentum this year. Analyst Jang Nam-hyun explained that the company has secured an export pipeline worth more than KRW 38 trillion, mainly in the Middle East and Europe, is pursuing export contracts worth over KRW 20 trillion with the Kingdom of Saudi Arabia (KSA), and that the armored vehicle project in Romania, scheduled to be announced in May, is also expected to exceed KRW 4 trillion in scale.
◆HL Mando Corporation (204320)― Heungkuk Securities / Analyst Ma Geon-woo
- Target price: KRW 82,000 (raised from KRW 54,000)
- Investment opinion: Not provided
Heungkuk Securities raised its target price for HL Mando Corporation by 52%, from KRW 54,000 to KRW 82,000, saying the company is likely to establish itself as a key beneficiary in the era of Physical AI, given its expanded pipeline from robotaxis into the broader robotics field. Analyst Ma Geon-woo explained that HL Mando Corporation is currently supplying actuators for quadruped robots and that there is a possibility it will also supply actuators for a humanoid to be launched this year by a leading electric vehicle (EV) manufacturer in North America.※ ActuatorA core component that moves a robot’s joints, functioning like muscles in the human body. A single humanoid robot contains dozens of actuators, which must be capable of highly precise motion control.

sms@fnnews.com Seong Min-seo Reporter