Table of contents
I. Investment Points.........................................................................................................
II. Valuation......................................................................................................................
III. Operating condition variables: commodities prices and demand.........................
IV. Productivity and brand value keys to raising margins...........................................
V. Rapidly rising car penetration in China to also catalyze solid tire market
growth .........................................................................................................................
[Company Analysis]
Hankook Tire (Buy, TP:W28,000) ..................................................................................
Nexen Tire (Buy, TP:W8,000) ..........................................................................................
Kumho Tire (Hold, TP:W6,500) .......................................................................................
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