[Infostock Daily= Reporter An Hoe Hyun] Shinhan Investment said on the 24th that the copper foil boom will continue due to the increase in demand for electric cars for SKC, maintaining investment opinion 'BUY' and a target stock price of KRW 115,000.
"The third-quarter operating profit will be in line with the consensus, with the appearance and profits of mobility materials growing 52% and 58%, respectively, due to the increase in sales and profitability due to the operation of the copper foil 4th plant," the company said, adding, "The export volume of copper foil in Jeongeup in August was the highest, confirming the increase in the utilization rate due to strong demand for forward demand. Chemical operating profit is expected to increase by 8% quarter-on-quarter due to strong demand for PG(propylene glycol) related to hygiene."
"As demand for electric vehicles increases, it plans to expand copper foil production capacity to 50,000 tons by 2022, and overseas expansions such as Malaysia, Europe and the United States are also planned, and it is highly likely to become visible within the year," the company said, adding, "It can maintain high profitability through sales of high value-added products, and the operating profit of mobility materials will grow at an average annual rate of 55% by 2022 and has enough room for upside as a growth stock with both performance and growth potential."
Reporter An Hoe Hyun ahh@infostock.co.kr
