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Hyundai Glovis Rises for Second Consecutive Trading Day... iM Securities Maintains "Solid PCC Freight Rates" Buy Rating

Hyundai Glovis is on a two-day winning streak, gaining more than 2% during trading on the 6th. As of this morning, Hyundai Glovis is trading at 201,000 won, up

Wooil Shim
Staff Reporter
4 min read
Hyundai Glovis Rises for Second Consecutive Trading Day... iM Securities Maintains "Solid PCC Freight Rates" Buy Rating
CBC News

Hyundai Glovis is on a two-day winning streak, gaining more than 2% during trading on the 6th.

As of this morning, Hyundai Glovis is trading at 201,000 won, up 4,000 won (2.03%) from the previous trading day. Buying interest has flowed in since the opening, continuing an upward trend.

iM Securities: "Focus on Mid-to-Long-Term Earnings Stability... Investment Opinion Buy"

Despite concerns over Hyundai Glovis's short-term performance, the securities industry is focusing on its mid-to-long-term earnings stability.

iM Securities maintained a 'Buy' investment opinion and a target price of 325,000 won for Hyundai Glovis. The firm assessed that second-quarter operating profit this year could fall slightly short of market expectations due to factors such as rising fuel costs. However, it forecasted that the improvement in the transportation segment's performance will continue, given that the freight rate environment for Pure Car Carriers (PCC) remains solid.

Increasing Global Auto Volumes... 'High' Visibility of Earnings Growth

Additionally, iM Securities evaluated positively that the visibility of earnings growth is high, based on increasing global automobile freight volumes and a stable shipping business. Accordingly, the firm analyzed that despite short-term cost pressures, the mid-to-long-term growth trend is highly likely to be maintained.

"Solid Supply-Demand for Auto Maritime Transport... Investment Sentiment Improving"

Market assessments suggest that investment sentiment is improving as the robust supply-demand dynamics of the auto maritime transport market and Hyundai Glovis's business competitiveness continue to be highlighted.

However, some analysts also note that future changes in oil prices, logistics costs, and global trade conditions could act as variables for both earnings and share price.

[This article was written with the assistance of AI. This article does not intend to solicit investment, and the final decision and responsibility for investing lie with the investor.]

Wooil Shim
Staff Reporter

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