SEOUL, KOREA - Motor Trend magazine has named Kia Motors’ (Kia) Cadenza (domestic name K7) as its full-size champ. On Jun 4, the magazine wrote, “While the Cadenza wasn’t the best in every category, it was strong in those that make the most difference: ride comfort, interior space, and fuel economy…
- The news came as a nice surprise as the model just released in the US in May and it is Kia’s highest-end model in America. As such, it will lead to strong US sales and enhance its brand image.
- As such, we believe Kia’s shares will continue to rebound. We maintain BUY and a 12M TP of W79,000 at 8x 12MF PE, the sector’s average.
*Source: Korea Investment & Securities Co.
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