Hyundai Motor Group shares were all strong early on the 12th. Buying is concentrating on expectations that the company will lead the robot business through Boston Dynamics, RMAC, and Robotics America in the United States.
As of 9:40 a.m. that day on the Korea Exchange, Hyundai Motor was trading at 700,000 won, up 54,000 won (8.36%) from the previous close.
At the same time, Kia was also trading at 179,650 won, up 4,950 won (2.83%) from the previous close. Hyundai Glovis and Hyundai Rotem were up 34,500 won (13.75%) and 500 won (0.23%), respectively.
In the securities industry, Hyundai Motor is being evaluated as the "robot bellwether," with target prices being raised one after another.
Samsung Securities noted that Hyundai Motor Group plans to develop its robot business in the United States through Boston Dynamics, RMAC, and Robotics America. It expected that Hyundai Motor would lead the robot business because it holds the highest equity stake in all of them.
Lim Eun-young, an analyst at Samsung Securities, said, "In addition to Boston Dynamics, RMAC, which trains robots, and America Robotics, which produces robots, are scheduled to be established in the second half of this year," adding, "Hyundai Motor also has the highest equity stake in Boston Dynamics at 28%, and Hyundai Motor is expected to have the highest stake in RMAC and America Robotics as well."
Lim said, "If Hyundai Motor holds more than 50% equity, it will be able to recognize revenue from the data business and robot production starting next year," adding, "We raise the target price by 14.3% to 800,000 won from 700,000 won."
KB Securities also maintained a "buy" (BUY) rating and a target price of 800,000 won for Hyundai Motor on the 11th.