Hyundai Mobis, target price raised to 76ten-thousand won…revaluation of core robot components

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IBK Investment & Securities said Hyundai Mobis is undergoing a revaluation as a key humanoid component stock. It maintained its 'Buy' rating. The researcher said the decision had been made to raise the target price.

Lee Hyun-wook, a researcher at IBK Investment & Securities, cited entry into the core robot components business through the internalization of Atlas actuators as an investment point. The researcher expects Hyundai Mobis's role within the Hyundai Motor Group as a key manufacturing and components affiliate in the physical AI ecosystem to expand. The researcher also explained the scalability of its existing electrification component capabilities and robot drivetrain technology.

The researcher assumed that each Atlas 1actuators per unit 31would be installed. The report presented production-capacity scenarios based on that assumption. The production capacity presented was used as the basis for calculating sales when the business is commercialized.

The report presented revenue conversions based on production-capacity assumptions. It stated that the calculation would generate an annual revenue effect of approximately billion won.5075The report presented this figure as an example of the potential revenue scale of the robot-parts business.

Researcher Lee assessed that Hyundai Mobis could emerge as a beneficiary of the internalization of key components under Hyundai Motor Group’s robotics strategy. The report said it had raised its target price based on the company’s related technological and production capabilities. IBK Investment & Securities presented specific assumptions and the basis for the revenue conversion together in the report.