[Click e-Stock] Hyundai Mobis, High Value-Added Actuators in Focus... Target Price Raised

On June 4, KB Securities significantly raised its target price for Hyundai Mobis from 7.5 million won to 12 million won, citing the growing prominence of high value-added actuators used in robotics.

Kang Sungjin, a research analyst at KB Securities, projected, "Assuming Boston Dynamics' Atlas secures a 60% share of the industrial humanoid market, Hyundai Mobis is expected to generate an operating profit of 14 trillion won from its actuator business in 2035."

KB Securities analyzed that the selling price of Atlas could fall to $190,000 (280 million won), making it as economically viable as a worker with a labor cost of 48 million won. If sales of Atlas reach 1.5 million units (representing a 60% share of the industrial humanoid market) and 28% of the unit price is allocated to actuator purchases, Hyundai Mobis's actuator sales could reach 186 trillion won.

Kang predicted that, while the market share of major automakers that fail to transition to eco-friendly vehicles will decline, Hyundai Motor Group will quadruple its production share outside China by introducing external autonomous driving AI such as Alphamayo and engaging in foundry (contract manufacturing) of autonomous vehicles.

Accordingly, Kang expects Hyundai Mobis's module/parts operating profit to reach 4.2 trillion won and after-sales service (A/S) operating profit to reach 5.8 trillion won by 2035.

Kang concluded, "Based on these factors, Hyundai Mobis's appropriate market capitalization is estimated at 111 trillion won," adding, "This consists of 44 trillion won for its existing business, 14.7 trillion won for its indirect stake in Boston Dynamics (10.9% indirect ownership), and 52.7 trillion won from the effects of its actuator business and increased volumes from Hyundai Motor Group."

This content was produced with the assistance of AI translation services.