prediction
The high Target P/E is justified by the possibility of escaping two years of losses, shareholder returns and additional M&A using about 9천억 cash, and the arrival of a major new-title cycle, but full transition to a profit-growth phase in 28년 is needed to justify it.
A prediction by 현대차증권 인터넷/게임 최승호. Statements are as reported by the cited publishers — not verified by DecisionGateway.
높은 Target P/E설정은 2년간 이어진 적자 탈출 가능성, 보유중인 약 9천억 현금을 활용한 주주환원 및 추가적 M&A 가능성, 주요 신작 사이클 도래로 회사가 정상화되는 구간임을 고려한 높은 P/E 설정임을 부연함.
Discussion
Related claims
The target price is raised to 15,000원 from 13,000원 on higher earnings estimates, maintaining the stock as top trading pick and keeping the Target P/E of 25x.현대차증권 인터넷/게임 최승호 · commitmentThe target price applies the past 3-year average P/E band of 11.9x and 12-month forward EPS of 4,695 KRW (previously 4,885 KRW), considering entry into the Physical AI value chain including robotaxi and robotics actuators.현대차증권 · statementThe investment opinion BUY is maintained with a target price of 70,000 KRW, applying a Target P/E of 8.7x to 2028F EPS of 8,158 KRW.현대차증권 조선/방산 백주호 · commitment27F EPS 5,001원에 Target Multiple 13.4배(글로벌 Peer Group인 Camtek, Onto Innovation의 평균 Multiple 대비 20% Discount) 적용하여 목표주가 산출.김종배 · statementEven applying the low end of 2025 P/E given the recent share price decline, upside is sufficient.현대차증권 조선/방산 백주호 · predictionThe target price is cut to KRW 370,000 (Buy maintained), derived by applying a target P/B of 1.1 to 12M forward BPS (sustainable ROE 15.3%, COE 13.5%), with sustainable ROE lowered to reflect reduced earnings estimates from a lower average daily trading value forecast.현대차증권 증권 김성훈 · statement