Hyundai Motor hit an intraday 52-week high on the 21st. In the securities industry, analysts said the stock could rise to 800,000 won, backed by productivity innovation led by subsidiary Boston Dynamics (BD).
As of 9:57 a.m. that day on the Korea Exchange, Hyundai Motor was trading at 507,000 won, up 28,000 won (5.85%) from the previous session. With intraday buying pouring in, it jumped to 510,000 won.
KB Securities highlighted Hyundai Motor's robot-based productivity innovation in a report that day. Kang Sung-jin, a KB Securities researcher, said, "Only Hyundai Motor Group and Tesla are corporations that simultaneously possess an artificial intelligence (AI) brain through collaboration with Google's Gemini Robotics, vast factory data, a fast decision-making structure, and large-scale mass-production capabilities."
Kang added the indirect equity value of Boston Dynamics at 35 trillion won, the value of the existing auto business at 69 trillion won, and the expansion value of the Autonomous Driving foundry business using humanoids at 60 trillion won to calculate Hyundai Motor's appropriate market capitalization at 164 trillion won. Based on this, the price target was set at 800,000 won.
The rationale for valuing Boston Dynamics at 128 trillion won is expanding demand for productivity amid structural labor declines. Kang said, "Over the next 10 years, the working-age population in OECD countries and China is expected to decrease by about 110 million," and noted, "To replace this, 9.6 million Humanoid Robot units per year will be needed by 2035."
Kang added, "If Boston Dynamics secures a 15.6% market share among these, revenue could reach 404 trillion won in 2035, with operating profit at 62 trillion won."