KB Securities Cuts Kia's Target Price to 250,000 Won from 300,000 Won on July 27

According to KB Securities on July 27, the brokerage downgraded Kia's target price to 250,000 won from 300,000 won, citing weaker-than-expected profitability. Despite the price cut, KB Securities maintained a buy rating on the stock.

Kia's second-quarter operating profit fell 4.9% year-over-year to 2.6 trillion won, missing consensus estimates by 5.9%. The shortfall was driven by increased incentive spending to capture the fast-growing European EV market, though gains from favorable exchange rates and hybrid sales growth limited the decline. KB Securities projects Kia's full-year operating profit will rise 5.1% to 9.5 trillion won.