(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] Eugene Investment & Securities lowered its target price for EcoProBM from 200,000 won to 150,000 won on the 17th. Investment opinions also maintained a 'sell'. This is because the European Union (EU) and the U.S. government are unlikely to strengthen support for the electric vehicle market for the time being. In addition, EcoProBM said it needs to find customers other than Samsung SDI as soon as possible.

"Due to the EU's conservative political landscape and the Biden government's weakening fuel efficiency regulations, mid- to long-term expectations for the electric vehicle market have retreated and lowered the target price for the electric vehicle market," Eugene Investment & Securities said. "Regardless of whether former President Donald Trump is elected, the growth stage of the electric vehicle market is shrinking," said Eugene Investment & Securities Co.

"The electric vehicle market is an industry where demand is generated by policies, and it is unlikely that the EU will strengthen its policy support for the time being," said Eugene Investment & Securities Co. "The EU majority party said it will officially review the ban on internal combustion locomotives in 2035."

Ecoprobm fundamentals (basic physical strength) were also concerned. This is because Samsung SDI, a major customer, will internalize its bipolar material business and its performance will deteriorate. The estimated sales of bipolar materials between 2024 and 2030 were lowered by 15%.

In the second quarter, EcoproBM's operating profit fell 51.4% year-on-year to 926 billion won. The operating loss is expected to turn into a deficit of 3.8 billion won.

 

 

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