0129 GMT - HL Mando's 1Q results were likely dampened by limited output increases by its local auto maker clients, Daiwa Capital analysts Yoonki Bae and Henny Jung write in a note. The South Korean car-component supplier may also have suffered from production line adjustments at U.S. electric-vehicle makers, the analysts say. Mando's 1Q revenue and operating profit likely fell 10% and 27%, respectively, on quarter, they note. Still, they remain optimistic about Mando's 2025 growth. The impact of U.S. tariffs on Mando will be minimal as its American clients are responsible for import clearance, they add. Daiwa cuts the stock's target price by 9% to KRW50,000 but keeps a buy rating. Shares are 2.7% lower at KRW36,500. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 21:29 ET (01:29 GMT)
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