Alphabiz - Samsung Securities raised its target stock price to 58,000 won for HL Mando by 41.5%.

(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Sangjin] On the 4th, Samsung Securities raised the target price for the automotive parts company HL Mando to 58,000 won, up 41.5%, citing it as the "biggest beneficiary of the trend for hybrid vehicles and Extended Range Electric Vehicles (EREV)."

EREV refers to vehicles that use an internal combustion engine to charge the battery and improve driving efficiency.

Samsung Securities explained, "Pure electric vehicles have shorter driving ranges and charging times of over 20 minutes compared to internal combustion engine vehicles, which has slowed down demand growth." They further stated, "This has led to the rise of hybrid vehicles and EREV technology."

Samsung Securities also mentioned that "The change in conservative parts, mainly due to hybrids and EREVs, has triggered growth," and predicted, "With increased sales of key components such as the Integrated Dynamic Brake (IDB) and Electronic Suspension (SDC), profitability of Korean factories will improve, and performance in regions such as China, North America, and India will rise."

Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)