In today’s briefing:
- Kia Corp: The Best Performing Stock Among Top 10 Market Cap Companies in KOSPI YTD
Kia Corp: The Best Performing Stock Among Top 10 Market Cap Companies in KOSPI YTD
- Amid a major decline in the Korean stock market (KOSPI down 19.6% YTD), one of the best outperformers has been Kia Corp (000270 KS) which is down only 2% YTD.
- Kia Corp is well poised to continue to outperform KOSPI in the next 6-12 months, mainly driven by its increasing market share for EVs globally and cheap EV/EBITDA valuation multiples.
- The company also reported outstanding 2Q 2022 results, which should boost near-term sentiment on the stock. Kia Corp plans to launch its flagship EV9 model (large sized SUV) in 2023.
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