The author is an analyst for NH Investment & Securities. He can be reached at [email protected] — Ed.
A change in business structure to electrification is expected at Hyundai Wias auto parts division on orders for thermal management parts. Elsewhere, having completed restructuring, the machinery division should see a full-scale strengthening in top- and bottom-line growth from 2024 on greater orders for defense and RnA.
Mid/long-term new business expectations yet to be reflected; opportunity in play
We maintain a Buy rating and TP of W90,000 on Hyundai Wia. We expect robust order momentum this year, which should confirm the mid/long-term growth potential of the firms two major divisions (auto parts/machinery). However, such expect…
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